16 (Ignore income taxes in this problem.) The management of Stanforth Corporation is investigating automating a process. Old equipment, with a current salvage value of $41750 would be replaced by a new machine. The new machine would be purchased for $636,000 and would have a 6 year useful life and no salvage value. By automating the process, the company would save $213,200 per year in cash operating costs. The simple rate of return on the investment is closest to: (Assume the company uses straight-line depreciation,) 18% 172% 34.1%