Expected Rate of Return Washington-Pacific (W-P) invests $4 million to buy a tract of land...
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Accounting
Expected Rate of Return
Washington-Pacific (W-P) invests $4 million to buy a tract of land and plant some young pine trees. The trees can be harvested in 12 years, at which time W-P plans to sell the forest at an expected price of $8 million. What is W-P's expected rate of return? Round your answer to two decimal places.
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