Assume the following information for a capital budgeting proposal with a five-year time horizon: $563,000 Initial investment: Cost of equipment (zero salvage value) Annual revenues and costs: Sales revenues Variable expenses Depreciation expense Fixed out-of-pocket costs $300,000 $130,000 $ 50,000 $ 40,000 This proposal's simple rate of return is closest to: This proposal's simple rate of return is closest to: Multiple Choice O 14%. O 16%. 23%. O 24%