PLEASE ANSWER

Pierre's Hair Salon is considering opening a new location in French Lick, California. The cost of building a new salon is dollar 300,000. A new salon will normally generate annual revenues of dollar 70,000, with annual expenses (including depreciation) of dollar 41,500. At the end of 15 years the salon will have a salvage value of dollar 80,000. Calculate the annual rate of return on the project. (Round answer to O decimal places, e.g. 125.) Annual rate of return percentage