Tuggle, Inc., which manufactures rigid shaft couplings, has $600,000 to invest. The company is considering three dissimilar projects that will yield the following rates of return.
Project X iX 24%
Project Y iY 18%
Project Z iZ 30%
The initial investment needed for each project is $100,000, $300,000, and $200,000, respectively. If Tuggle's MARR is 15 percent per year and it invests in all three projects, what rate of return will the company make?