The management of Ro Corporation is investigating automating a process. Old equipment, with a current salvage value of $30,000, would be replaced by a new machine. The new machine would be purchased for $438,000 and would have a 6 year useful life and no salvoge value. 8y automating the process, the company would save $151,000 per year in cash operating costs. The simple rate of retum on the investment is closest to llgnore incame taxes.): (Round your answer to 1 decimal place.) Muitiple Choice 17.8% 16.7% whon 34.5%