3. values Required information 1.00 points 2a. Compute the simple rate of retum promised by the games. (Round your answer to 1 decimal place. i.e. 0.123 should be considered as 12.3%..) Simple rate of retum 2b. If the company requires a simple rate of return of at least 10%, will the games be purchased? Yes No References eBook & Resources Worksheet Learning Objective: 08-01 Determine the payback period for an investment. Difficulty: 1 Easy Learning Objective: 08-06 Compute the simple rate of return for an investment. Chock my work The following information applics to the questions displayed below! Nick's Novelties, Inc., is considering the purchase of new electronic games to place in its amusement houses. The games would cost a total of $475,000, have an fifteen-year useful life, and have a total salvage value of S47,500. The company estimates that annual revenues and expenses associated with the games would be as follows: $ 240.000 Revenues Less operating expenses: Commissions to amusement houses Insurance Depreciation Maintenance Net operating Income $70,000 45,000 28,500 30,000 173,500 $ 66,500 2. va ue Required information 1.00 points Required: 1a. Compute the pay back period associated with the new electronic games. Payback Period 1 Choose Denominator: Choose Numerator: Payback Period Payback period years