TB MC Qu. 14-106 (Algo) Joetz Corporation has gathered... Joetz Corporation has gathered the following data on a proposed investment project (Ignore income taxes.): Investment required in equipment Annual cash inflows $ 38,500 $ 9,400 Salvage value of equipment Life of the investment Required rate of return. $ 0 15 years 10% The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment. The simple rate of return for the investment (rounded to the nearest tenth of a percent) is: