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Summer 20 Company is considering investing in new equipment. Based on the following, what is the Accounting Rate of Return? Estimated Cost of New Equipment

Summer 20 Company is considering investing in new equipment. Based on the following, what is the Accounting Rate of Return?
Estimated Cost of New Equipment $600,000
Useful life in years 5
Estimated Residual Value $50,000
Expected Net Cash Inflows over life of asset $800,000

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