Average Rate of Return-New Product Hana Inc. is considering an investment in new equipment that will be used to manufacture a smartphone. The phone is expected to generate additional annual sales of 6,800 units at $176 per unit. The equipment has a cost of $758,900, residual value of $57,100, and an 8-year life. The equipment can only be used to manufacture the phone. The cost to manufacture the phone follows: Cost per unit: Direct labor $27.00 Direct materials 105.00 Factory overhead (including depreciation) 17.60 Total cost per unit Determine the average rate of return on the equipment. If required, round to the nearest whole percent. $149.60 %