8. Company X is considering a proposal for a new pump that costs 20,000 SR. The new pump will have an annual savings of 4,500 SR per year over a life of 4 years, and it can be sold at the end of the fourth year for 7,000 SR. Compute the rate of return for this investment by using the trial and error method. Start with an initial guess of i=7%. Increase or decrease by 1.5%, and perform at least one interpolation. Use up to three decimal places for your calculations, and select the correct statement from the options below. a. The rate of return is less than or equal to 7% b. The rate of return is greater than 7% but less than or equal to 8.5% c. The rate of return is greater than 8.5% but less than or equal to 10% d. The rate of return is greater than 10%