The management of Ro Corporation is investigating automating a process. Old equipment, with a current salvage value of $27.000, would be replaced by a new machine. The new machine would be purchased for $432.000 and would have a 6 year useful life and no salvage value. By automating the process, the company would save $149.000 per year in cash operating costs. The simple rate of return on the investment is closest to (ignore income taxes): (Round your answer to 1 decimal place.) Multiple Choice 19.05 17.8% 34.5% 16.7%