A project that cost $$80000$ with a useful life of $5$ years is being considered. Straight$-$line depreciation is being used and salvage value is $$5000.$ The project will generate annual cash flows of $$24775.$ The annual rate of return is

$25\mathrm{.}0\%.$

$23\mathrm{.}0\%.$

$58\mathrm{.}3\%.$

$24\mathrm{.}0\%.$