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A company projects an increase in net income of $30,000 each year for 5 years if its invests $300,000 in new equipment. The new equipment

A company projects an increase in net income of $30,000 each year for 5 years if its invests $300,000 in new equipment. The new equipment has a five year life and an estimated salvage value of $100,00. What is the annual rate of return

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