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JT Engineering wants to buy a machine that costs $720,000, has a 15-year life, and...

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Accounting

JT Engineering wants to buy a machine that costs $720,000, has a 15-year life, and has no salvage value. Annual revenues are $190,000 and annual expenses are $121,000. If JT uses the straight-line method to compute depreciation, what is the annual rate of return on this purchase? Round your answer to two decimal places.

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