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Shields Company has gathered the following data on a proposed investment project: (Ignore income taxes.) Investment required in equipment $630,000 Annual cash inflows $88,000 Salvage

Shields Company has gathered the following data on a proposed investment project: (Ignore income taxes.)

Investment required in equipment $630,000
Annual cash inflows $88,000
Salvage value $0
Life of the investment 15 years
Discount rate 10%

The simple rate of return on the investment is closest to: (Round your answer to the closest interest rate.)

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