TB MC Qu. 12-67 Quip Corporation wants to purchase a new ... Qui Corporation wants to purchase a new machine for $290.000. Management predicts that the machine will produce sales of $198.000 each year for the next 5 years. Expenses are expected to include direct materials, direct labor and factory overhead (excluding depreciation totaling $88.000 per year. The firm uses straight-line depreciation with an assumed tesdal (salvegel value of $50,000. Quip's combined income tax rate, 30% What is the annual accounting (book) rate of return (Arry for the proposed investment, based on the intal investment Round answer to nearest whole percentage) Multiple Choice 13 O O21 20