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Question 4 of 4 0/4 Your answer is incorrect. Pierre's Hair Salon is considering opening a new location in French Lick, California. The cost of building a new salon is $261,000. A new salon will normally generate annual revenues of $63,650, with annual expenses (including depreciation) of $40,200. At the end of 15 years the salon will have a salvage value of $74,000. Calculate the annual rate of return on the project. Annual rate of return % e Textbook and Media Save for Later Attempts: 2 of 3 used Submit