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Sheridan Oil Company is considering investing in a new oil well. It is expected that...

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Accounting

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Sheridan Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $131,600 and will increase annual expenses by $88,000 including depreciation. The oil well will cost $427.000 and will have a $9,000 salvage value at the end of its 10 -year useful life. Calculate the annual rate of return. (Round answer to 0 decimal places, e.3. 13 ) Annual rate of return

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