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Chemco Enterprises is the manufacturer of Ultra-Dry, a hydrophobic coating that will waterproof anything. Over a 5-year period, the costs associated with the pilot test product line were as follows: first cost of $31,000 and annual costs of $18,000. Annual revenue was $28,000 and used equipment was salvaged for $4,000. What rate of return did the company make on this product? The rate of return the company made on the product is 19