Need help calculating this one

The management of stanforth corporation is investigating automating a process. Old equipment, with a current salvage value of $21,000, would be replaced by a new machine. The new machine would be purchased for $378,000 and would have a 6 year useful life and no salvage value. By automating the process, the company would save $131,000 per year in cash operating costs. The simple rate of return on the investment is closest to: 19.0 % 18.0% 34.7 % 16.7%