The following relates to a proposed equipment purchase: Initial investment $ 163,000 Salvage value Estimated useful life Annual net cash flows Annual depreciation expense $ 5,000 4 years $ 47,100 $ 39,500 The annual average investment amount used to calculate the accounting rate of return is: Multiple Choice $81,500 $79,000 Multiple Choice $81,500 $79,000 $40,750 $84,000 $57,950