Dickerson Co. is evaluating a project requiring a capital expenditure of $810,000. The project has...
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Dickerson Co. is evaluating a project requiring a capital expenditure of $810,000. The project has an estimated life of 4 years and no salvage value. The estimated net income and net cash flow from the project are as follows: The company's minimum desired rate of return is 12%. The present value of $1 at compound interest of 12% for 1,2 , 3 , and 4 years is 0.893 0.797,0.712, and 0.636 , respectively. Determine the average rate of return on investment. Round your answer to one decimal place. %
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