Problem $7-30$

Firm $x$ buys equipment for $$7,000$ and leases the equipment to firm A for $$400$ a year for six years. After six years, firm $x$ expects to sell the asset for $$7,500.$ What is the return that firm $x$ earns on the lease? Use Appendix $B$ and Appendix $D$ to answer the question. Round your answer to the nearest whole number. $\%$