Pierre's Hair Salon is considering opening a new location in French Lick, California. The cost of building a new salon is $260,000. A new salon will normally generate annual revenues of $55,200, with annual expenses (including depreciation) of $38,500. At the end of 15 years the salon will have a salvage value of $74,000. Calculate the annual rate of return on the project. Annual rate of return Save for Later Attempts: 0 of 7 used Automats: found home Submit Answer Assignment sent to Gradebook. Your grade is being recorded. Mon, Apr 20, 2020, 12:55:25 AM (America/New York -04:00)