Newport Corp. is considering the purchase of a new plece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $217,500. The equipment will have an initial cost of $900,000 and have a 6 year life. There is no salvage value for the equipment. What is the simple rate of retum? ignore income taxes 0 2417% 7.50% 16.67% 48 34%