Crowl Corporation is investigating automating a process by purchasing a machine for $793800 that would have a 9 year useful life and no salvage value. By automating the process, the company would save $133,000 per year in cash operating costs. The new machine would replace some old equipment that would be sold for scrap now, yielding $21.200. The annual depreclation on the new machine would be $88200. The simple rate of return on the investment is closest to (ignore income taxes) Multiple Choice 512% The management of Nixon Corporation is investigating purchasing equipment that would cost $528,000 and have a 7 year life with no salvage value. The equipment would allow an expansion of capacity that would increase sales revenues by $369,000 per year and cash operating expenses by $213,500 per year. (ignore income taxes) Required: Determine the simple rate of return on the investment. (Round your answer to 1 decimal place.)