Determine the average rate of return for a project that is estimated to yield total income of $284,400 over three years, has a cost of $556,200, and has a $75,800 residual value. Round to the n

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter12: Capital Investment Analysis
Section: Chapter Questions
Problem 1BE: Average rate of return Determine the average rate of return for a project that is estimated to yield...
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Determine the average rate of return for a project that is estimated to yield total income of $284,400 over three years, has a cost of $556,200, and has a $75,800 residual value. Round to the nearest whole number.

what is the percentage?

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