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. Hamilton State Bank wants to add a new branch office. They have determined that the cost of construction on the new facility will be
. Hamilton State Bank wants to add a new branch office. They have determined that the cost of construction on the new facility will be $1.5 million with another $500,000 in organizational costs. Annual net revenues are projected to be $277,000. If the new branch is expected to last 20 years, what is the expected rate or return on this investment? (Round to the nearest whole percent)
A. $929,252
B. 72%
C. 15%
D. 12.5%
E. 1.14%
Please show me the work so I know how to do it.
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