Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $75,818 per year. Other information about this proposed project follows: Initial investment $ 375,335 Useful life 7 years Salvage value $ 47,000 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.)

Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $75,818 per year. Other information about this proposed project follows: 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.)