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Tom Kringle Inc invests $4 million to clear a tract of land and to set out some young pine trees. The trees will mature in

  1. Tom Kringle Inc invests $4 million to clear a tract of land and to set out some young pine trees. The trees will mature in 10 years, at which time Tom Kringle plans to sell the forest at an expected price of $8 million. What is Tom Kringle's expected rate of return?

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