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Equipment manufactured by Riverside Limited costs $1,100,000 and will remain useful for five years. It...

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Accounting

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Equipment manufactured by Riverside Limited costs $1,100,000 and will remain useful for five years. It promises annual operating income of $236,500, and its expected residual value is $115,000. Which equipment offers the higher ARR? First, enter the formula, then calculate the ARR (Accounting Rate of Return) for both pieces of equipment. (Enter the answer as a percent rounded to the nearest tenth percent.)

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