Switching to powder coating technology will reduce the emission of volatile organic carbons $($VOCs$)$ for a firm's production process. The initial cost is $$300,000$ with annual costs of $$35,000$ and savings of $$80,000$ per year. The salvage value $10$ years from now is projected to be $$75,000.$ What rate of return will the firm make on this investment? Round your answer to the nearest $\mathrm{.}01$ percent.