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You purchased a rental property for $ 172,500 at the beginning of last year. The net rental income for the year was $ 12,615 .

You purchased a rental property for $172,500 at the beginning of last year. The net rental income for the year was $12,615. The value of the property increased to $183,000 by the end of that year. If you borrowed 50 percent of the purchase price from a local bank to finance the purchase, paying 6 percent, interest-only, what was your return on investment for the first year? (Round answer to 1 decimal place, e.g. 52.5.)

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