Bulk material hauler purchased used dump truck

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Reference no: EM13771379

A bulk material hauler purchased a used dump truck for $50,000. The operating cost was $5,000 per month, with average revenues of $7500 per month. After two years, the truck was sold for $11,000. The rate of return was closest to:

2.6% per month

2.6% per year

3.0% per month

3.6% per year

Reference no: EM13771379

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