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Find simple rate of return on the investment is closest to

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Question 1: Crowl Corporation is investigating automating a process by purchasing a machine for $806,400 that would have a 9 year useful life and no salvage value. By automating the process, the company would save $140,000 per year in cash operating costs. The new machine would replace some old equipment that would be sold for scrap now, yielding $22,600. The annual depreciation on the new machine would be $89,600. The simple rate of return on the investment is closest to (Ignore income taxes.): (Round your answer to 1 decimal place.)

Reference no: EM132607514

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