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Cullumber Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $$120,690$ and will increase annual expenses by $$68,000$ including depreciation. The oil well will cost $$468,000$ and will have a $$11,000$ salvage value at the end of its $10-$year useful life. Calculate the annual rate of return. $($Round answer to $0$ decimal places, e$.$g$.13\%.)$

Annual rate of return $$

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