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Summer 20 Company is considering investing in new equipment. Based on the following, what is the Average Annual Operating Income (as in the Accounting Rate

Summer 20 Company is considering investing in new equipment. Based on the following, what is the Average Annual Operating Income (as in the Accounting Rate of Return calculation)?

Estimated Cost of New Equipment $500,000

Useful life in years 5

Estimated Residual Value $50,000

Expected New Cash Inflows over life of asset $700,000

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