Swift oil company is considering investing in new oil well. It is expected that the oil well will increase annual revenues by $124,000 and will increase annual expenses by $72,000 including depreciation. The oil well will cost $422,000 and we will have a $11,000 salvage value at the end of its 10 year useful life. Calculate the annual rate of return.

Brief Exercise 24-9 Swift oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $124,000 and wll increase annual expenses by $72,000 ncluding depreciation. The off well will cost $422,000 and will have a $11,000 salvage value at the end of its 10-year useful ife. Calculate the annual rate of return. (Round answer to 2 decimal places, e.g. 32.47. Annual rate of return OpenShom wors t Click if you would ke to show work for this question: ENTERACTIVE TUTORIAI