Sheridon corporation is investigating automating a process

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Sheridon Corporation is investigating automating a process by purchasing a new machine for $514,000 that would have a 10 year useful life and no salvage value. By automating the process, the company would save $110,000 per year in cash operating costs. The company's current equipment would be sold for scrap now, yielding $21,000. The annual depreciation on the new machine would be $51,400. (Ignore income taxes.)

Required:

Determine the simple rate of return on the investment. (Round your answer to 1 decimal place. Omit the "%" sign in your response.)

  Simple rate of return %

Reference no: EM13572428

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