Ivanhoe Computer Devices Inc. is considering the introduction of a new printer. The company's accountant had prepared an analysis computing the target unit cost but misplaced his working papers. From memory he remembers the estimated unit sales price was $$216$ and the target unit cost was $$207.$ Sales were projected at $100,000$ units with a required $$5,000,000$ investment.

Compute the required minimum rate of return.

Minimum rate of return