Pole Steel Inc, a local cement company, is looking at a project that would require the company to purchase a machine for $$3,330,000$ and have a life of ten$-$years. At the end of ten years, the equipment would have no salvage value. The machine would create annual net operating income of the following:

$\backslash$table$[[,,],[$Sales$,$$$2,800,000,],[$Variable expenses,$1,750,000,],[$Contribution margin,$1,050,000,],[$Fixed expenses:,$$310,000,],[,$ Fixed out$-$of$-$pocket cash expenses,$333,080,643,000],[$Depreciation$,$$$407,000,],[$Net operating income,,$]]$

Compute the project's simple rate of return assuming the company's required rate of return is $14\%.($Round your final answer to the nearest whole percent.$)$

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using the tables provided.