As the new engineer in the company, you are tasked to send out a proposal for an expansion of the current manufacturing plant. As per research you came up with a summary of the capital needed and it is amounting to Php 18.500.000.00. Annual depreciation is noted as well as 10% of your capital invested. You are asked to determine the rate of retum if your projected annual profit is at Php 5,500,000.00. Express the answer in percentage, up to two decimal places/digits. Answer = Blank 1%