Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $83,983 per year. Other information about this proposed project follows:

Initial investment	$	387,020
Useful life		7	years
Salvage value	$	59,000

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.)