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Cincinnati Brewing Company has invested in a machine that cost $81,000, that has a useful...

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Accounting

Cincinnati Brewing Company has invested in a machine that cost $81,000, that has a useful life of ten years, and that has no salvage value at the end of its useful life. The machine is being depreciated by the straight-line method, based on its useful life. It will have a payback period of six years. Given these data, the simple rate of return on the machine is closest to: (Ignore income taxes in this problem.) (Round your answer to 1 decimal place.)

4.2%

6.7%

3.1%

26.7%

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