$85,000,$69,000,$82,000,$83,000, and $94,000. Required: 1. Calculate the annual net income for each of the five years. 2. Calculate the accounting rate of return. Enter your answer as a whole percentage value (for example, 16\% should be entered as "16"). % whole percentage value (for example, 16% should be entered as "16"). % Using the accounting rate of return metric, which project should be selected: the first or the second? Why might the second project be preferred over the first project? It returns larger amounts of cash sooner than the first project
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