4) (Ignore income taxes in this problem.) Hinck Corporation is investigating automating a process by purchasing a new machine for $520,000 that would have a 8 year useful life and no salvage value. By automating the process, the company would save S134,000 per year in cash operating costs. The company's current equipment would be sold for scrap now, yielding $22,000. The annual depreciation on the new machine would be S65,000. Required: Determine the simple rate of return on the investment to the nearest tenth of a percent. Show your work