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Newton Corp is considering a new project that will earn $450,000 of total income over the next five years. The cost to start the project

Newton Corp is considering a new project that will earn $450,000 of total income over the next five years. The cost to start the project totals $500,000, and it will have a $22,000 salvage value. Compute the average rate of return for the project, rounding to the nearest whole percentage. What is the average investment worth?

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