Carper Company is considering a capital investment of $352,800 in additional productive facilities. The new machinery is expected to have useful life of 6 years with no salvage value. Depreciation is by straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be $19,404 and $84,000, respectively. Carper has an 8% cost of capital rate, which is required rate of return on the investment. Cash payback period is 4.2 years. IT IS NOT 5.5%

Your answer is incorrect. Compute the annual rate of return on the proposed capital expenditure. (Round answer to 2 decimal places, e.g. 2.25\%.) Annual rate of return % eTextbook and Media Last saved 1 second ago. Attempts: 1 of 3 used Saved work will be auto-submitted on the due date. Autosubmission can take up to 10 minutes