Pocket Pilot Inc. is considering an investment in new equipment that will be used to manufacture a mobile communications device. The device is expected to generate additional annual sales of 6,200 units at $311.00 per unit. The equipment has a cost of $518,900, residual value of $39,100, and an eight-year life. The equipment can only be used to manufacture the device. The cost to manufacture the device is shown below.

Cost per unit:
	Direct labor		$54.00
	Direct materials		209.00
	Factory overhead (including depreciation)		35.85
		Total cost per unit	$298.85

Determine the average rate of return on the equipment. If required, round to the nearest whole percent. ????? %