A project has an annual rate of return of 15%. The project cost $90000, has a 5-year useful life, and has no salvage value. Straight-line depreciation is used. The annual net income, exclusive of depreciation, is O $13500. O $24750. O $35775.

A project has an annual rate of return of 15%. The project cost $90000, has a 5-year useful life, and has no salvage value. Straight-line depreciation is used. The annual net income, exclusive of depreciation, is O $13500. O $24750. O $35775.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please do not give solution in image format thanku

* Your answer is incorrect.
A project has an annual rate of return of 15%. The project cost $90000, has a 5-year useful life, and has no salvage value. Straight-line
depreciation is used. The annual net income, exclusive of depreciation, is
O $13500.
O $24750.
$35775.
O $31500.

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