accounting

Financial Statement Analysis Portfolio
The Income Statement for Pumpkin Co. is shown below:

Pumpkin Co.
Income Statement
for the Month Ended October 21, 2010

revenues

sales
$120,000.00
operating expenses

salary expense
$10,000.00
supplies expense
$14,000.00
depreciation expense
$4,000.00
net income
$92,000.00

Pumpkin Co. is about to embark on a project that will have a total cost of $300,000.00 over a 10-year period.

Calculate the expected annual rate of return on this project.

Calculate the cash payback on this project.

I got 10.67 for annual rate of return but i know its wrong.

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