Crowl Corporation is investigating automating a process by purchasing a machine for $797,400 that would have a 9 year useful life and no salvage value. By automating the process, the company would save $135,000 per year in cash operating costs. The new machine would replace some old equipment that would be sold for scrap now, yielding $21,600. The annual depreciation on the new machine would be $88,600. The simple rate of return on the investment is closest to (Ignore income taxes.): Multiple Choice 11.16% 16.76% 5.98% 516%