Russnak Corporation is investigating automating a process by purchasing a new machine for $520,000 that would have a 8 year useful life and no salvage value. By automating the process, the company would save $140,000 per year in cash operating costs. The company's current equipment would be sold for scrap now, yielding $27,000. The annual depreciation on the new machine would be $65,000. (Ignore income taxes.)

Required:

Determine the simple rate of return on the investment. (Round your answer to 1 decimal place.)