A new piece of equipment costs $60,000. The company can get $6,000 for trading in their old machine, Follow is financial data relevant to the new machine: $24,000 revenue: $ 13,000 cash expenses; useful life 8 years: depreciation expense $5,500 per year. The simple rate of return is: O 10.19% 9.17% 20.37% O 18.33%