(Ignore income taxes in this problem.) Shields Company has gathered the following data on a...
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(Ignore income taxes in this problem.) Shields Company has gathered the following data on a proposed investment project: Investment required in equipment $470,000 Annual cash inflows $77,000 Salvage value $0 Life of the investment 20 years Discount rate 14% The simple rate of return on the investment is closest to: (Round your answer to the nearest interest rate.) 11% 12% 16% 5%
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