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Walden Industries is considering investing in production management software that costs $630,000, has $67,000 residual value, and leads to cost savings of $1,650,000 per year

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Walden Industries is considering investing in production management software that costs $630,000, has $67,000 residual value, and leads to cost savings of $1,650,000 per year over its five-year life. Calculate the average amount invested in the asset that should be used for calculating the accounting rate of return

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