Swift Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $123,960 and will increase annual expenses by $72,000 including depreciation. The oil well will cost $422,000 and will have a $11,000 salvage value at the end of its 10 -year useful life. Calculate the annual rate of return. (Round answer to 0 decimal places, e.8. 13\%.) Annual rate of return \%