Blossom Company is considering a long$-$term investment project called ZIP. ZIP will require an investment of $$116,000.$ It will have a useful life of $4$ years and no salvage value. Annual revenues would increase by $$79,020,$ and annual expenses $($excluding depreciation$)$ would increase by $$39,000.$ Blossom uses the straight$-$line method to compute depreciation expense. The company's required rate of return is $16\%.$

Compute the annual rate of return.