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A company projects an increase in net income of $ 3 1 4 4 0 each year for the next five years if it invests

A company projects an increase in net income of $31440 each year for the next five years if it invests $286000 in new equipment. The equipment has a five-year life and an estimated salvage value of $107000. What is the annual rate of return on this investment?
26%
16%
21%
11%
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