Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $98,046 per year. Other information about this proposed project follows: Initial investment $ 473,650 Useful life 9 years Salvage value $ 52,000 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.)