1 E11-2 (Algo) Calculating Accounting Rate of Return, Payback Period [LO 11-1, 11-2) Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by 580,333 per year Other information about this proposed project follows: 3 points Skloped Initial investment Useful lire Salvage value $384,370 + years $ 56,000 Assume straight line depreciation method is used. Required: 1. Calculate the accounting rate of return for Bartlett (Round your percentage answer to 2 decimal places.) 2. Calculate the payback period for Bartlett (Round your answer to 2 decimal places.) Bres 1 Accounting Rate of Return 2 Payback Period % years