A company is planning to buy a new tool. Information is as follows:

	Tool 1	Tool 2
First Cost	P 9,500	P 16,500
Salvage Value	P 400	P 2,100
Annual Operation	P 3,200	P 2,300
Annual Maintenance	P 1,500	P 1,100
Taxes & Insurance	3%	3%
Life, years	10	15

Money is worth at least 15%.

What is the rate of return of the additional investment?