Jark Corporation has invested in a machine that cost $66,000, that has a useful life of twelve years, and that has no salvage value at the end of its useful life. The machine is being depreciated by the straight-line method, based on its useful life. It will have a payback period of five years. Given these data, the simple rate of return on the machine is closest to (Ignore income taxes.): (Round your answer to 1 decimal place.) Garrison 16e Rechecks 2017-11-11 Multiple Choice 8.1% 9.2% 28.3% 11.7%