TB Problem Qu. 14-151 (Algo) Ramson Corporation is considering... Ramson Corporation is considering purchasing a machine that would cost $907,280 and have a useful life of 15 years. The machine would reduce cash operating costs by $103,100 per year. The machine would have a salvage value of $107,320 at the end of the project (ignore income taxes.) Required: a. Compute the payback period for the machine. (Round your answer to 2 decimal places.) b. Compute the simple rate of return for the machine. (Round your intermediate calculations to nearest whole dollar and your final answer to 2 decimal places.) e Payback period b Simple rate of return years %