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Shields Company has gathered the following data on a proposed investment project: Investment required in equipment $400,000 Annual cash inflows $80,000 Salvage value $0 Life

Shields Company has gathered the following data on a proposed investment project:

Investment required in equipment $400,000

Annual cash inflows $80,000

Salvage value $0

Life of the investment 10 years

Discount rate 10%

The simple rate of return on the investment is closest to:

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