Brief Exercise 12-9 X Your answer is incorrect. Try again. Swift Oil Company is considering investing in a new oil well, It is expected that the oil well will increase annual revenues by $124,000 and will increase annual expenses by $75,000 including depreciation. The oil well will cost $412,000 and will have a $9,000 salvage value at the end of its 10-year useful life. Calculate the annual rate of return. (Round answer to 2 decimal places, e.g. 12.47.) Annual rate of return