Average Rate of Return-New Product Hana inc. Is considering an investment in new equipment that will be used to manufacture a smartphorie. The phone is expected to generate additional annual sales of 4,000 units at $227 per unit. The equipment has a cost of $446,400, residual value of $33,600, and an 8 -vear life. The equipment can anly be used to manufacture the phone. The cost to manufacture the phone follows: Determine the average rate of return on the equipment. If required, round to the nearest whole percent. %