Current Attempt in Progress Your answer is incorrect. Crane's Hair Salon is considering opening a new location in French Lick, California. The cost of building a new'salon is $303,000. A new salon will normally generate annual revenues of $62,920, with annual expenses (including depreciation) of $40,000. At the end of 15 years, the salon will have a salvage value of $79,000. Calculate the annual rate of return on the project. Annual rate of return eTextbook and Media Save for Later % Attempts: 1 of 3 used Submit Answer

Crane's Hair Salon is considering opening a new location in french Lick, California. The cost of bulding a newision is $303000. A new salon will normally generate annual revenues of $62.920, with annual expenses lincluding depreciationli of $40,000. At the end of is years, the salon will have a salvage value of $79,000. Calculate the annul rate of return on the project. Annual rate of return