A project has an annual rate of return of 15%. The project cost $120,000, has a 5-year useful life, and no salvage value. Straight-line depreciation is used. The annual net income, exclusive of depreciation, was
A) $42,000.
B) $33,000.
C) $47,700.
D) $18,000.

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The Answer of A project has an annual rate of return of 15%. The project cost $120,000, has a 5-year useful life, and no salvage value. Straight-line depreciation is used. The annual net income, exclusive of depreciation, was
A) $42,000.
B) $33,000.
C) $47,700.
D) $18,000.

A Project Has an Annual Rate of Return of 15