Alesi Corporation is considering purchasing a machine that would cost $515,760 and have a useful life of 8 years. The machine would reduce cash operating costs by $92,100 per year. The machine would have a salvage value of $107,210 at the end of the project. (Ignore income taxes.) Required: he payback period for the machine. (Round your answer to 2 decimal a. places.) Payback period years b. Compute the simple rate of return for the machine. (Round your intermediate answers to nearest whole dollar and your final answer to 2 decimal places.) Simple rate of return