(Ignore income taxes in this problem.) The IBM Company has invested in a machine that...
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(Ignore income taxes in this problem.) The IBM Company has invested in a machine that cost $77,000, that has a useful life of eleven 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 seven years. Given these data, the simple rate of return on the machine is closest to: Please Show your work, I have been lost on this concept.
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