Ramson Corporation is considering purchasing a machine that would cost $609,580 and have a useful life of 9 years. The machine would reduce cash operating costs by S105,100 per year. The machine would have a salvage value of $107340 at the end of the project. (Ignore Income taxes.) Required: a. Compute the payback period for the machine (Round your answer to 2 decimal places.) b. Compute the simple rate of retum for the machine. (Round your intermediate calculations to nearest whole dollar and your final answer to 2 decimal places.) a Payback penod Simple rate of return years b. 96