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A company buys a machine for $60,000 that has an expected life of 9 years...

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Accounting

A company buys a machine for $60,000 that has an expected life of 9 years and no salvage value. The company anticipates a yearly net income of $2,850 after taxes of 30%, with the cash flows to be received evenly throughout each year. What is the accounting rate of return?

2.85%.

42.75%.

4.75%.

6.65%.

9.50%.

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