15) The management of Ro0 Corporation is investigating automating a process. Old equipment, with a current salvage value of $30,000, would be replaced by a new machine. The new machine would be purchased for $438,000 and would have a 6 year usefill life and no salvage value. By automating the process, the company would save $151,000 per year in cash operating costs. The simple rate of retum on the investment is closest to (Ignore income taxes.)