Accounting Rate of Profit and Internal Rate of Return; a Reply

There is no disagreement between Professor Wright and myself over the results which characterize the relationship between the accounting rate of profit and the internal rate of return. But while I chose to emphasize the possibility of exploiting them, Professor Wright, as befits an accountant, chooses to emphasize the difficulties. I take the opportunity to offer a simple guide to what can be done; all references are to my 1976 paper.