Jark Corporation has invested in a machine that cost $92,000, that has a useful life of sixteen 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 eight years. Given these data, the simple rate of return on the machine is closest to (Ignore income taxes.): Multiple Choice 6.3% 2.7% 18.8% 3.8%