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(Ignore income taxes in this problem.) An expansion at Jay Manufacturing would increase sales revenues by $315,000 per year and cash operating expenses by $186,000 per year. The initial investment would be for equipment that would cost $405,000 and have a 5 year life with no salvage value. The annual depreciation on the equipment would be $81,000. The simple rate of return on the investment is closest to: A. 31.9%

B. 15.2%

C. 20.0%

D. 11.9%