['5 Question 8 0 / 2 Pts Peach Co. is considering purchasing a new tractor to harvest their premium catnip. The new tractor would cost $646,100 and have a useful life of 14 years and no salvage value. The tractor would allow more catnip to be harvested and increase sales revenue by $276,000 per year and cash operating expenses by $124,000 per year. What is the simple rate of return, ignoring income taxes. Assume Peach Co. uses straight-line depreciation. Round your answer to 2 d.p. as a percent. For example, if you believe the answer is 10.7%, enter 10.7 23.53 16.38 (with margin: 1)