Trek Industries purchases new machinery to replace some of its old machinery. The new machinery costs $250.000. has a useful life of 15 years, and has a salvage value of $40,000. Trek sells the old machinery for $30,000. The payback period for the investment in the new machinery is 8 years. What is the simple rate of return on the investment in the new machinery? (Round to one decimal point.) 5.4% O 6.1% O 7.8% 12.5% None of the above