Chemco Enterprises manufactures Ultra-Dry, a hydrophobic coating that will waterproof anything. Over 5 years, the costs associated with the pilot test product line were as follows: first cost of $44,000 and annual costs of $18,000. Annual revenue was $27,000 and used equipment was salvaged for $4,000. What rate of return did the company make on this product? The rate of return the company made on the product is