pany projects an increase in net income of $29762 each year for the next five years if it invests equipment. The equipment has a five-year life and an estimated salvage value of $6579. What is the annual rate of return on this investment? Round your answer to 2 decimal places. Answer as a percentage. For example, if your calculation is would be 10.56 Selected Answer: 62.16 Correct Answer: 31.08 0.01