Exercise 12-8 (Static) Payback Period and Simple Rate of Return [LO12-1, LO12-6] The following information applies to the questions displayed below] Nick's Novelties, Incorporated, is considering the purchase of new eleetronic games to place in its amusement houses. The games would cost a total of $300,000, have an eight-year useful life, and have a total salvage value of $20,000. The company estimates that annual revenues and expenses associated with the games would be as follows: Exercise 12-8 Part 2 (Static) 2a. Compute the simple rate of return promised by the games. 2b. If the company requires a simple rate of return of at least 12%, will the games be purchased