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Current Attempt in Progress

Blue Spruce Company is considering investing in a new facility to extract and produce salt. The facility will increase revenues by $$246,400,$ but it will also increase annual expenses by $$186,402.$ The facility will cost $$1,004,000$ to build, and it will have a $$44,000$ salvage value at the end of its useful life.

Calculate the annual rate of return on this facility. $($Round answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

Annual rate of return $$

$$ Attempts: $0$ of $1$ used