Symphony Inc. will be replacing an old piece of equipment with this newly acquired machine with the following characteristics. The machine being replaced has no salvage value. (Ignore income taxes.): Cost of the $50,000 equipment Annual cash savings $15,000 Life of the machine 8 years The company uses straight-line depreciation and a $5,000 salvage value. Assume cash flows occur uniformly throughout a year except for the initial investment and the salvage at the end of the project. The simple rate of return would be closest to: 30.0% 17.5% 18.75% 12.5% Symphony Inc. will be replacing an old piece of equipment with this newly acquired machine with the following characteristics. The machine being replaced has no salvage value. (Ignore income taxes.): Cost of the $50,000 equipment Annual cash savings $15,000 Life of the machine 8 years The company uses straight-line depreciation and a $5,000 salvage value. Assume cash flows occur uniformly throughout a year except for the initial investment and the salvage at the end of the project. The simple rate of return would be closest to: 30.0% 17.5% 18.75% 12.5%