Firm X buys equipment for $7,000 and leases the equipment to firm A for $400 a year for six years. After six years, firm X expects to sell the asset for $7,500. What is the return that firm X earns on the lease? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest whole number. %........?

appendix B

appendix D

Interest Factors for the Present Value of One Dollar Time Perior fe. 2 ? Interest Factors for the Present Value of an Annuity of One Dollar