Ramson Corporation is considering purchasing a machine that would cost $$735,120$ and have a useful life of $10$ years. The machine would reduce cash operating costs by $$102,100$ per year. The machine would have a salvage value of $$107,310$ at the end of the project. $($Ignore income taxes.$)$

Required:

a$.$ Compute the payback period for the machine.

Note: Round your answer to $2$ decimal places.

b$.$ Compute the simple rate of return for the machine.

Note: Round your intermediate calculations to nearest whole dollar and your final answer to $2$ decimal places.

$\backslash$table$[[$a$.$ Payback period,years$],[$b Simple rate of return,$\%$