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5alactic inc, is considering an investment in new equipment that will be used to manufacture...

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Accounting

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5alactic inc, is considering an investment in new equipment that will be used to manufacture a smartphone. The phone is expected to generate additional annual sales of 3,400 units at $183 per unit. The equipment has a cost of $347,800, residual value of $26,200, and an eight-year life. The equipment can only be used to manufacture the phone. The cost to manufacture the phone follows: Determine the average rate of return on the equipment. If required, round to the nearest whole percent

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