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 salvage value. By automating the process, the company would save $151.000 per year in cash operating costs. The simple rate of return on the investment is closest to (lgnore income taxes.: Multiple Choice 791% 17,8% 34.5%