Brinkley Corporation is considering replacing a technologically obsolete machine with a new state-of-the-art machine. The new machine would cost $250,000, have a ten (10) year useful life and no salvage value. The new machine would cost $12,000 per year to operate and maintain, but would save $55,000 per year in labor and other costs. The old machine can be sold now for scrap for $10,000. The simple rate of return on the new machine is (state as a percentage and round the percentage to one decimal place). HINT: cost savings is considered revenue.