Sheridan Company is considering a capital investment of $$150,000$ for a new machine. The new machine is expected to have a useful life of $5$ years with no salvage value. It is estimated that annual revenues would increase by $$55,000$ during the life of the machine. It is estimated that annual expenses during the life of the machine would increase by $$21,025,$ which does not include annual depreciation.Sheridan uses the straight$-$line method of depreciation. Sheridan's minimum acceptable rate of return on projects is $9\%.$Calculate the annual rate of return on the proposed capital expenditure. $($Round answer to $2$ decimal places, eg$.15\mathrm{.}25\%.)$Annual rate of return$\%$