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Problem $7-30$

Firm $x$ buys equipment for $$10,000$ and leases the equipment to firm A for $$600$ a year for four years. After four years, firm $x$ expects to sell the asset for $$11,000.$ What is the return that firm $x$ earns on the lease? Use Appendix B and Appendix $D$ to answer the question. Round your answer to the nearest whole number. $\%$

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