Kingbird Company is considering a capital investment of $$154,000$ for a new machine. The new machine is expected to have a useful life of $5$ years with no salvage value. It is estimated that annual revenues would increase by $$65,800$ during the life of the machine, It is estimated that annual expenses during the life of the machine would increase by $$30,765,$ which does not include annual depreciation. Kingbird uses the straight$-$line method of depreciation. Kingbird's minimum acceptable rate of return on projects is $9\%.$

Calculate the annual rate of return on the proposed capital expenditure. $($Round answer to $2$ decimal places, e$8.15\mathrm{.}25\%.)$

Annual rate of return $$

$\%$

Should Kingbird Company buy the machine?