Determine the expected annual operating cost

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A mining company plans to invest $50,000 in a project. The annual operating cost is expected to be $6,000, and the annual income is expected to be $22,000. THe salvage value will be $5,000 at the end of 5 year life. Find the rate of return to the nearest tenth of a percent. This question should be solved by trail of error and the answer is approciamtely 20%.

Reference no: EM13180697

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