Novak Company is considering investing in a new facility to extract and produce salt. The facility will increase revenues by $232,100, but it will also increase annual expenses by $172,313. The facility will cost $991,000 to build, and it will have a $31.000 salvage value at the end of its useful life. Calculate the annual rate of return on this facility. (Round answer to 2 decimal places, eg. 52,75) Annual rate of return ________ %
