Jark Corporation has invested in a machine that cost $77,000, that has a useful life of eleven 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 seven years. Given these data, the simple rate of retum on the machine is closest to (gnore income taxes.): (Round your answer to 1 decimal place.) Multiple Choice O 16% 5.2% 23.4% 2.7%