17 5.88 pts Compute the simple rate of return of replacing an old piece of equipment with a new piece of equipment (ignore income taxes and round your answer to 1 decimal place) where: Old equipment has a salvage value of $24,000. The new machine would be purchased for $468,000. New machine has an estimated 6 year useful life. New machine has no estimated salvage value. By upgrading the equipment, the company would save $161,000 per year in cash operating costs. 34.4% 17.7% 18.7% 16.7% Previous checked at 8:33am Submit Qu