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QUESTION
A company projects an increase in net income of $30,883 each year for the next five years if it invests $367,353 in new equipment.
A company projects an increase in net income of $30,883 each year for the next five years if it invests $367,353 in new equipment. The equipment has a five-year life and an estimated salvage value of $120,482. The annual rate of return on this investment is _____________ %.
