Joeta Corporation has gathered the following data on a proposed investment project (ignore income taxes.) Investment required in equipment Annual cash inflows Salvage value of equipment Life of the investment Required rate of return $34,000 $ 7,600 $ 15 years 109 The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment The simple rate of return tof the Investment (rounded to the nearest tenth of a percent et (Round your answer to 1 decimal place.) Multiple Choice 15.7% 114