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Expected Rate of Return

Washington$-$Pacific $($W$-$P$)$ invests $$4$ million to buy a tract of land and plant some young pine trees. The trees can be harvested in $10$ years, at which time W$-$P plans to sell the forest at an expected price of $$8$ million. What is W$-$P$\text{'}$s expected rate of return? Do not round intermediate calculations. Round your answer to two decimal places.

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