an expansion at Fenstermacher Inc, would increase sales revenues by $315,000 per year and cash operating expenses by $186,000. The initial investment would be for equipment that would cost $405,000 and have a 5 year life with no salvage value. The annual depreciation on the equipment would be $81,000. The simple rate of return on the investment is closest to: a-31.9% b-15.2% c-20.0% d-11.9%