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Nylan Tiles is considering an investment in new equipment costing $858,000. The equipment will be...

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Accounting

Nylan Tiles is considering an investment in new equipment costing $858,000. The equipment will be depreciated on a straight-line basis over a five-year life and is expected to have a residual value of $62,000. The equipment is expected to generate net cash inflows of $1,002,000 in total during the five-year life. What is the accounting rate of return associated with the equipment investment? (Round your answer to two decimal places.)

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