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Joey has a new project has an initial cost of $190,000. The equipment will be depreciated on a straight-line basis to a zero book value over the five-year life of the project. The projected net income each year is $17,000,$19,500, $21.500, $17,000, and $12,000, respectively. What is the average accounting return? • Round the percentage number to two decimals. E.g., if the answer is 12.3456% type 12 35 and not 0.1235

Joey has a new project has an initial cost of $190,000. The equipment will be depreciated on a straight-line basis to a zero book value over the five-year life of the project. The projected net income each year is $17,000,$19,500, $21.500, $17,000, and $12,000, respectively. What is the average accounting return? • Round the percentage number to two decimals. E.g., if the answer is 12.3456% type 12 35 and not 0.1235

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Joey has a new project has an initial cost of $190,000. The equipment will be depreciated on a straight-line basis to a zero book value over the five-year life of the project. The projected net income each year is $17,000,$19.500, $21.500, $17,000. and $12,000, respectively. What is the average accounting return? • Round the percentage number to two decimals. E.g., if the answer is 12.3456%, type 12.35, and not 0.1235.
Transcribed Image Text:Joey has a new project has an initial cost of $190,000. The equipment will be depreciated on a straight-line basis to a zero book value over the five-year life of the project. The projected net income each year is $17,000,$19.500, $21.500, $17,000. and $12,000, respectively. What is the average accounting return? • Round the percentage number to two decimals. E.g., if the answer is 12.3456%, type 12.35, and not 0.1235.
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