Savod apters 1112, & 13 TB Problem Qu. 13-177 Russnak Corporation is investigating... Russnak Corporation is investigating automating a process by purchasing a new machine for $500,000 that would have a 8 year useful life and no salvage value. By automating the process, the company would save $120,000 per year in cash operating costs. The company's current equipment would be sold for scrap now, yielding $30,000. The annual depreciation on the new machine would be $62,500 (Ignore income taxes.) Required: Determine the simple rate of return on the investment. (Round your answer to 1 decimal place.) Simple rate of return