Crowl Corporation is investigating automating a process by purchasing a machine for $801,900 that would have a 9-year useful life and no salvage value. By automating the process, the company would save $137,500 per year in cash operating costs. The new machine would replace some old equipment that would be sold for scrap now, yielding $22,100. The annual depreciation on the new machine would be $89,100. The simple rate of return on the investment is closest to (Ignore income taxes.):

a. 11.21%

b. 16.81%

c. 6.21%

d. 5.21%