Crowl Corporation is investigating automating a process by purchasing a machine for $807,300 that would have a 9 year useful life and no salvage value. By automating the process, the company would save $140,500 per year in cash operating costs. The new machine would replace some old equipment that would be sold for scrap now, yielding $22,700. The annual depreciation on the new machine would be $89,700. The simple rate of return on the investment is closest to (Ignore income taxes.): (Round your answer to 1 decimal place.)