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The Jackson Company has invested in a machine that cost $76,000, that has a useful...

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Accounting

The Jackson Company has invested in a machine that cost $76,000, that has a useful life of eight 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 five years. Given these data, the simple rate of return on the machine is closest to: (Ignore income taxes.) (Round your answer to 1 decimal place.)

a. 3.9%

b. 32.5%

c. 5.0%

d. 7.5%

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