Which of the Following Is the Formula for the Accounting $\frac{\text{Net initial investment}} {\text{Annual cash flow}}$

Which of the following is the formula for the accounting rate of return?

A) $\frac{\text{Net initial investment}} {\text{Annual cash flow}}$
B) $\frac{\text{Project revenue - project operating expenses}} {\text{Initial investment - salvage of old asset}}$
C) $\frac{\text{Present value of future cash flows}} {\text{Net initial investment}}$
d. None of these answer choices are correct