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Permanent mineral rights on a parcel of land are purchased for an initial lump- sum payment of $300,000. Profits from the mining activities are $32,000

Permanent mineral rights on a parcel of land are purchased for an initial lump- sum payment of $300,000. Profits from the mining activities are $32,000 each year, and these profits are expected to continue indefinitely. What interest rate is being earned on the initial investment

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