Comet Powder Company has purchased a piece of equipment costing $50,000. It is expected to...
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Finance
Comet Powder Company has purchased a piece of equipment costing $50,000. It is expected to generate a 15-year stream of benefits amounting to $7,598 per year. Determine the rate of return Comet expects to earn from this equipment.
A: 15.2%
B: 13.82%
C: 15.14%
D: 12.65%
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