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A project that cost $75,000 has a useful life of 5 years and a salvage value of $3,000

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A project that cost $75,000 has a useful life of 5 years and a salvage value of $3,000. The internal rate of return is 12% and the annual rate of return is 18%. The amount of the annual net income was

a) $7,020

b) $6,480

c) $4,680

d) $4,320

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