Question 31 (2.5 points) A machine with a useful life of 6 years was purchased by Rhodes Industries for $60,000. The machine has no salvage value at the end of its useful life. It will have a payback period of four years. The machine is being depreciated by the straight-line method, based on its useful life. Given these data, the simple rate of return on the machine is closest to (Ignore income taxes.): 8.3% 7.2% 9.5% 25%