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Danson Iron Works, Inc., manufactures angular contact ball bearings for pumps that operate in harsh environments. If the company invested $2.4 million in a process

Danson Iron Works, Inc., manufactures angular contact ball bearings for pumps that operate in harsh environments. If the company invested $2.4 million in a process that resulted in profits of $760,000 per year for 5 years, what rate of return did the company make on its investment?

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