Shelby American Industries has gathered the following data on a proposed investment project: Investment required in equipment $240,000 Annual cash inflows Salvage value $60,000 $0 Life of the investment Required rate of return 8 years 10% The company uses straight-line depreciation. Assume cash flows occur uniformly throughout a year except for the initial investment. The accounting (simple) rate of return for the investment is closest to: O 10.0% 20.8% 8.3% O 12.5%