Quick Cleaners is considering whether to purchase a delivery truck that will cost $29,000; last...
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Accounting
Quick Cleaners is considering whether to purchase a delivery truck that will cost $29,000; last six years; and have an estimated residual value of $5,000. Average annual net income from the delivery service is estimated to be $4,000. Quicks owners seek to earn an accounting rate of return of 20%. Compute the average investment cost and the accounting rate of return. Should the investment be made?
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