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Problem 7 - 3 4 A bottle of 1 0 - year - old Scotch whisky sells for $ 4 0 . A bottle of

Problem 7-34
A bottle of 10-year-old Scotch whisky sells for $40. A bottle of 17-year-old Scotch whisky sells for $89. The cost to age a bottle of whisky (use of barrels, storage space, labor, etc.) costs $3/ year. If you own a distillery and can "invest" 10-year old bottles to grow them into 17-year old bottles, what is your annual rate of return? Use Appendix D to answer the question. Round your answer to the nearest whole number.
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