Russnak Corporation is investigating automating a process by purchasing a new machine for $524,000 that would have a 10 year useful life and no salvage value. By automating the process, the company would save $160,000 per year in cash operating costs. The company's current equipment would be sold for scrap now, yielding $31,000. The annual depreciation on the new machine would be $52,400. (Ignore income taxes.) Required: Determine the simple rate of return on the investment. (Round your answer to 1 decimal place.) % Simple rate of return