Please explain step by step

The Zoey Company is investigating purchasing a new machine that would reduce labor costs by $15,000 per year. The new machine costs $75,000, has a useful life of 20 years, would have no salvage value at the end of the period, and would be depreciated using the straight line method. The machine would cost $6,000 to operate and maintain annually. The current machine could be sold now for $8,000. What is the simple rate of return? Percentages are rounded to 2 decimal places. a. 7.84% b. 20.00% c. 7.00% d. 13.43%