Joetz 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 $ 35,500 $ 8,200 $ @ 15 years 10% 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 for the investment (rounded to the nearest tenth of a percent) is. (Round your answer to 1 decimal place.) Multiple Choice O 272 O 16:45 o 23.4% O T18%