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The management of Schenk Corporation is investigating automating a process by replacing old equipment by...

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Accounting

The management of Schenk Corporation is investigating automating a process by replacing old equipment by a new machine. The old equipment would be sold for scrap now for $13,000. The new machine would cost $648,000, would have a 9 year useful life, and would have no salvage value. By automating the process, the company would save $186,000 per year in cash operating costs. (Ignore income taxes.) Required: Determine the simple rate of return on the

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