Culver Company is considering investing in a new facility to extract and produce salt. The facility will increase revenues by $240.900. but it will also increase annual expenses by $181,215. The facility will cost $999,000 to build, and it will have a $39,000 salvage value at the end of its useful life. Calculate the annual rate of return on this facility. (Round answer to 2 decimal places. e.8. 52.75.) Annual rate of return %