Washington-pacific w-p invests 2 million to buy a tract of, Ask an Expert

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Washington-Pacific (W-P) invests $2 million to buy a tract of land and plant some young pine trees. The trees can be harvested in 14 years, at which time W-P plans to sell the forest at an expected price of $4 million. What is W-P's expected rate of return? Round your answer to two decimal places.

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