Current Attempt in Progress Your answer is incorrect. Carla Vista Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $123,415 and will increase annual expenses by $75,000 including depreciation. The oil well will cost $412,000 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 O decimal places, e.g. 13%.) Annual rate of return eTextbook and Media Save for Later 11.7 % Attempts: 2 of 3 used Submit Answer