The management of Han Corporation is considering a project that would require an investment of $400,000 and would last for 8 years. The annual net operating income from the project would be $110,000, which includes depreciation of $43,000. The salvage value of the project's assets at the end of the project would be zero. The simple rate of return for the project is closest to:

	a.	16.8%
	b.	36.3%
	c.	27.5%
	d.	38.3%