Joett Corporation has gathered the following data on a proposed investment project (ignore income taxes. $31,500 $ 6,600 Investment required in equipment Annual cash inflows Salvage value of equipment Life of the investment Required rate of return 15 years 18 The company uses straight-line depreciation on all equipment Assume cash flows occur uniformly throughout a year except for the initial investment The simple rate of return for the investment trounded to the nearest tenth of a percent is: (Round your answer to 1 decimal place.) Multiple Choice 22.1% 19.7% 10.6% 14.3%