A project produces an annual net income of $11,500, $13,700, and $16,900 over the three...
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Accounting
A project produces an annual net income of $11,500, $13,700, and $16,900 over the three years of its life, respectively. The initial cost of the project is $257,000. This cost is depreciated straight-line to a zero book value over three years. What is the average accounting rate of return if the required discount rate is 6.75 %?
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