Chee Corporation has gathered the following data on a proposed investment project: $240,000 $50,000 Investment required In equipment Annual cash Inflows Salvage value Life of the Investment Required rate of return $0 8 years 10% The company uses straight-line depreciation. Assume cash flows occur uniformly throughout a year except for the initial investment. The simple rate of return on the investment is closest to: O 12.5% O 10.0% 20.8% 8.3%