Assume straight-line depreciation. A company plans to purchase machinery costing $1,000,000 with salvage value of...
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Accounting
Assume straight-line depreciation. A company plans to purchase machinery costing $1,000,000 with salvage value of $200,000 after 4 years. Annual income is expected to be $40,000 during the 4 years. Calculate the accounting rate of return. Round your answer to the nearest tenth of a percent.
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