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A key question in extragalactic studies is the determination of the relativeroles of stars and AGN in powering dusty galaxies at $z\sim$1-3 where the bulkof star-formation and AGN activity took place. In Paper I, we present a sampleof $336$ 24$\mu$m-selected (Ultra)Luminous Infrared Galaxies, (U)LIRGs, at $z\sim 0.3$-$2.8$, where we focus on determining the AGN contribution to the IRluminosity. Here, we use hydrodynamic simulations with dust radiative transferof isolated and merging galaxies, to investigate how well the simulationsreproduce our empirical IR AGN fraction estimates and determine how IR AGNfractions relate to the UV-mm AGN fraction. We find that: 1) IR AGN fractionestimates based on simulations are in qualitative agreement with the empiricalvalues when host reprocessing of the AGN light is considered; 2) forstar-forming galaxy-AGN composites our empirical methods may be underestimatingthe role of AGN, as our simulations imply $>$50% AGN fractions, $\sim$3$\times$higher than previous estimates; 3) 6% of our empirically classified "SFG" haveAGN fractions $\gtrsim$50%. While this is a small percentage of SFGs, ifconfirmed, would imply the true number density of AGN may be underestimated; 4)this comparison depends on the adopted AGN template -- those that neglect thecontribution of warm dust lower the empirical fractions by up to 2$\times$; and5) the IR AGN fraction is only a good proxy for the intrinsic UV-mm AGNfraction when the extinction is high ($A_V\gtrsim 1$ or up to and includingcoalescence in a merger).

The Role of Star-Formation and AGN in Dust Heating of z=0.3-2.8 Galaxies - II. Informing IR AGN fraction estimates through simulations