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Project A requires a $340,000 initial investment for new machinery with a five-year life and...

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Accounting

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Project A requires a $340,000 initial investment for new machinery with a five-year life and a salvage value of $32,000. The company uses straight-line depreciation. Project A is expected to yield annual net income of $29,900 per year for the next five years. Compute Project A's accounting rate of return. Compute Project A's payback period

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