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Bridgeport Company is considering investing in a new facility to extract and produce salt. The...

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Accounting

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Bridgeport Company is considering investing in a new facility to extract and produce salt. The facility will increase revenues by $224,400, but it will also increase annual expenses by $164,424. The facility will cost $984,000 to build, and it will have a $24,000 salvage value at the end of its useful life. Calculate the annual rate of return on this facility. (Round answer to 2 decimal pleces es. 52.75.) Annual rate of return

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