47 4.4 pts The management of Quintin Fernandez Corporation is investigating automating a process. Old equipment, with a current salvage value of $18,000, would be replaced by a new machine. The new machine would be purchased for $456,000 and would have a 6 year useful life and no salvage value. By automating the process, the company would save $157,000 per year in cash operating costs. The simple rate of return on the investment is closest to (Ignore income taxes.): O 18.5% O 34.4% O 17.8% O 16.7% Next >