Refrigerators for Less refurbishes and sells used refrigerators. The enterprise is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $169,400. The equipment will have an initial cost of $605,000 and have a 7 year life. If the salvage value of the equipment is estimated to be $17,000, what is the simple rate of return? 17.28% 45.11% 28.00% 150.37