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What is the accounting rate of return for a project that requires an initial outlay of $15 000 and has the expectation of future earnings

What is the accounting rate of return for a project that requires an initial outlay of $15 000 and has the expectation of future earnings of $4000 p.a. for the next five years? Assume the required rate of return is 8% p.a. Please provide working out and explanation on question

1.333

$970.80

1.0647

1.564

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