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Problem 7-30 Firm X buys equipment for $8,000 and leases the equipment to firm A for $700 a year for eight years. After eight years,

Problem 7-30 Firm X buys equipment for $8,000 and leases the equipment to firm A for $700 a year for eight years. After eight years, firm X expects to sell the asset for $9,000. 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

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