A project requires an initial investment of $250,000 at the present time. There are two possible outcomes for this project:
• Success: The annual revenue of $80,000 for 10 years and the salvage value of $100,000 at the end.
• Failure: Zero annual revenue and the salvage value of $150,000 at the end of year 2.
Find the minimum success probability to make this project economically satisfactory. Round to two decimal places.
Assume a 10% minimum interest rate of return.