denny corporation is considering replacing a technologically obsolete machine with a new state-of-the-art numerically controlled machine. the new machine would cost $290,000 and would have a ten-year useful life. unfortunately, the new machine would have no salvage value. the new machine would cost $48,000 per year to operate and maintain, but would save $89,000 per year in labor and other costs. the old machine can be sold now for scrap for $29,000. the simple rate of return on the new machine is closest to (ignore income taxes.):