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Based on the following for Chi Ro Company: Investment of $100,000 Residual value of $15,000 Expected life of 3 years Estimated income $75,000 Required: Calculate

Based on the following for Chi Ro Company:

Investment of $100,000

Residual value of $15,000

Expected life of 3 years

Estimated income $75,000

Required: Calculate the average rate of return. Show your work for full credit.

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