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CullumberOil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $123,960and will increase

CullumberOil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $123,960and will increase annual expenses by $72,000including depreciation. The oil well will cost $422,000and will have a $11,000salvage value at the end of its 10-year useful life. Calculate the annual rate of return.

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