Freepass Company is considering purchasing a piece of equipment for $$70,000.$ This purchase would save the company $$12,000$ per year in outsourcing expenses. It would have a $10$ year life and a $$4,000$ salvage value. This piece of equipment would increase annual utility expenses by $$2,000$ per year. Based on this information, compute the simple rate of return $($to one decimal place$)$

Multiple Choice

$4\mathrm{.}3\%$

$5\mathrm{.}2\%$

$14\mathrm{.}3\%$

$4\mathrm{.}9\%$

None of the above