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A company projects an increase in net income of $117000 each year for the next five years if it invests $900000 in new equipment. The

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A company projects an increase in net income of $117000 each year for the next five years if it invests $900000 in new equipment. The equipment has a 5-year life and an estimated salvage value of $300000. What is the annual rate of return on this investment? 13.0%19.5%30.0%36.0%

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