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. (Round your answer to 2 decimal places.) b. Compute the simple rate of return for the machine. (Round your Intermediate calculations to nearest whole collar and your final answer to 2 decimal places.) 3 year Payback period Simple rate of return