Saved Wayfair Industries Is Investigating automating a process by purchasing a new machine for $506,000 that would have a 11 year useful life and no salvage value. By automating the process, Wayfair would save $150,000 per year in cash operating costs. Wayfair's current equipment would be sold for scrap now, yielding $15,000. The annual depreciation on the new machine would be $46,000. (Ignore Income taxes.) Required: Determine Wayfair's simple rate of return on this proposed investment. (Round your answer to 1 decimal place.) Simple rate of return