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Harper Company is considering the purchase of new equipment. It will cost $ 1 5 0 , 0 0 0 and have a $ 5

Harper Company is considering the purchase of new equipment. It will cost $150,000 and have a $500,000 salvage value in five years. The annual cash flow from the equipment is expected to be $50,000.
What is the annual rate of return of the equipment?

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