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Average Rate of Return-Cost Savings Northwest Fabricators Inc. is considering an investment in equipment that will replace direct labor. The equipment has a cost $118,000 with a $10,000 residual value Ind a five-year life. The equipment will replace one employee who has an average wage of $38,170 per year. In addition, the equipment will have operating and energy osts of $11,450 per year. Determine the average rate of return on the equipment, giving effect to straight-line depreciation on the investment. If required, round to the nearest whole ercent. % Feedback Check My Work Divide the estimated average annual income by the average investment. Average savings less depreciation expense less additional operating costs equals average annual income