Oriole Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $120,660 and will increase annual expenses by $65,000 including depreciation. The oil well will cost $496,000 and will have a $10,000 salvage value at the end of its 10-year useful life. Calculate the annual rate of return. (Round answer to O decimal places, e.g. 13%) % Annual rate of return