Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $94,621 per year. Other information about this proposed project follows:

Initial investment	$	463,830
Useful life		9	years
Salvage value	$	42,000

Assume straight line depreciation method is used.

Required:
1.	Calculate and the accounting rate of return for Bartlett. (Round your answer to 2 decimal places.)

2.	Calculate and the payback period for Bartlett. (Round your answer to 2 decimal places.)