Monty Company is considering investing in a new facility to extract and produce salt. The facility will increase revenues by $231,000, but it will also increase annual expenses by $171,024. The facility will cost $990,000 to build, and it will have a $30,000 salvage value at the end of its useful life. Calculate the annual rate of return on this facility. (Round answer to 2 decimal places, e.g. 52.75.) Annual rate of return %