Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $112,563 per year. Other information about this proposed project follows:

Initial investment	$	523,550
Useful life		10	years
Salvage value	$	55,000

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.)

1.Accounting Rate of Return %

2.Payback Period years