8 04:52:04 Russnak Corporation is investigating automating a process by purchasing a new machine for $504,000 that would have a 9 year useful life and no salvage value. By automating the process, the company would save $140,000 per year in cash operating costs. The company's current equipment would be sold for scrap now, yielding $34,000. The annual depreciation on the new machine would be $56,000 (Ignore income taxes.) Required: Determine the simple rate of return on the investment. Note: Round your answer to 1 decimal place. Simple rate of retur %