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[ The following information applies to the questions displayed below. ] Project A requires a $ 3 5 5 , 0 0 0 initial investment

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[The following information applies to the questions displayed below.]
Project A requires a $355,000 initial investment for new machinery with a five-year life and a salvage value of $46,000. The company uses straight-line depreciation. Project A is expected to yield annual net income of $26,200 per year for the next five years.
Compute Project A's accounting rate of return.
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