What is the rate of return for the given project

Reference no: EM131900187

Problem

Production equipment is bought at an initial price of $10,000. The annual operation and maintenance cost is $100. The salvage value at the end of the 15-year life is $500. If the equipment brings in an income of $1,100 per month, what is the rate of return for this project?

Reference no: EM131900187

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