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Amigo Mobility, which manufactures battery-powered mobility scooters, has $670,000 to invest. The company is considering three different battery projects that will yield the following rates of return:
Deep cycle = 15%
Wet/flooded = 36%
Lithium ion = 23%
The initial investment required for each project is $ 170,000, $100,000, and $400,000, respectively. If Amigo's invests in all three projects, what will be its overall rate of return?
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