Brewer Company is considering purchasing a machine that would cost $999,360 and have a useful life of 14 years. The machine would reduce cash operating costs by $104,100 per year. The machine would have a salvage value of $107,330 at the end of the project. (Ignore income taxes.)

Required:
a.	Compute the payback period for the machine. (Round your answer to 2 decimal places.)

Payback period

years

b.	Compute the simple rate of return for the machine. (Round your answer to 2 decimal places. Omit the "%" sign in your response.)