Pierrs Hair Salon is considering opening a new location in French Liek. California. The cost of building a new salon is $260,000. A new salon will normally generate annual revenues of $55,200, with an nual expenses (including depreciation) of $38, 500. At the end of 15 years the salon wili have a salvage value of $74,000 Calculate the annual rate of retum on the project Annual rate of return eTextbook and Media Attempts: 2 of 3 used Saved work will be auto subunitted on the dile date Auko subrnissioncan take up to zo mingtes