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1) Newman Automobiles Manufacturing is considering two alternative investment proposals with the following data: Investment...

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1) Newman Automobiles Manufacturing is considering two alternative investment proposals with the following data: Investment Useful life Estimated annual net cash inflows for 5 vears Residual value Depreciation method Required rate of return Proposal X $12,000,000 7 years $2,000,000 $60,000 Straight-line 12% Proposal $600,000 8 years 595,000 $30,000 Straight-line 10% Calculate accounting rate of return and payback period for Proposal X and Proposal Y. Which Proposal will you prefer and why

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