Goldfarb Cancer Research Institute just received a $1.2 million gift to cover the salary for a permanent

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Goldfarb Cancer Research Institute just received a $1.2 million gift to cover the salary for a permanent scientific research position to study Hodgkin’s Disease. What would be the required rate of return on the investment if the position paid an annual salary of:

a. $60,000 per year?

b. $75,000 per year?

c. $100,000 per year?

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