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 6,600 units at $214 per unit. The equipment has a cost of $675,200, residual value of $50,800, 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 $35.00 Direct materials 136.00 Factory overhead (including depreciation) 23:20 Total cost per unit $194.20 Determine the average rate of retum on the equipment. It required, round to the nearest whole percent 96