The CFO of The Fun Factory is investigating the possibility of investing in a three-dimensional printer that would cost $16,000. The printer would eliminate the need to have prototypes of new toys be produced by a third party. The cost of having the prototypes manufactured by the third party is about $6,912 per year. The printer would have a useful life of five years with no salvage value with expected annual operating costs of $3,200 per year. Required: Compute the simple rate of return on the printer. (Round your answer to 1 decimal place.) Simple rate of return %