Alter company's manager has proposed installing an equipment that will cost $36,000,have a 8-year life,and have no salvage value.The company estimates that the machine could produce 4000 units which...

Alter company's manager has proposed installing an equipment that will cost $36,000,have a 8-year life,and have no salvage value.The company estimates that the machine could produce 4000 units which can be sold evenly throughout the year.The expected  income through the life of machinery is $16,000.The machine will generate net cash flows per year of $8,000.Calculate the average rate of return on the investment.