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A project has a first cost of $650000, a salvage value of 33.00% of the first cost after 3 years, and annual (GI-OE) of

A project has a first cost of $650000, a salvage value of 33.00% of the first cost after 3 years, and annual (GI-OE) of $250000. Assume the company has a Te of 37%. Determine the before-tax rate of return (ROR). (Round the final answer to three decimal places.) The before-tax rate of return (ROR) is determined to be %.

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