Your company is looking to invest in some adjacent land to your current facility. You have two options, you can purchase the land outright now for $$834,962.$ Or$,$ you could put pay the balance off in $5$ equal annual payments of $$200,193.$ The payment schedule can be seen in the table below. What is the rate of return on buying outright?

Year Single Payment Annual Payments

$0-$$$821,362-$$$200,193$

$10-$$$200,193$

$20-$$$200,193$

$30-$$$200,193$

$40-$$$200,193$