Sigma Company is considering a new investment that costs $246,000, has a 6 year life and no salvage value. Below is an income statement related to the investment's estimated annual revenues and expenses. $ 556,000 245,000 $ 311,000 Sales Variable Expenses Contribution Margin Fixed Expenses Out of pocket cash expenses Depreciation Net operating income $195,000 41,000 236,000 $ 75,000 The simple rate of return for this investment is closest to: 13.82% 47.15% 20.86% 30.49%