Pique Corporation wants to purchase a new machine for $310,000. Management predicts that the machine can produce sales of $220,000 each year for the next 5 years. Expenses are expected to include direct materials, direct labor, and factory overhead (excluding depreciation) totaling $85,000 per year. The firm uses straight-line depreciation with no residual value for all depreciable assets. Pique's combined income tax rate is 40.00%. Management requires a minimum after-tax rate of return of 10.00% on all investments. What is the annual book (accounting) rate of return based on the initial investment? 15.6% 13.1% 12.8% 16.1% 14.1%