View Policies Current Attempt in Progress Sheridan's Hair Salon is considering opening a new location in French Lick, California. The cost of building a new salon is $275,000. A new salon will normally generate annual revenues of $60,640, with annual expenses (including depreciation) of $39,400. At the end of 15 years, the salon will have a salvage value of $79,000. Calculate the annual rate of return on the project. Annual rate of return %