Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $66894 per year. Other information about this proposed project follows: Initial investment $331,160 Useful life 6 years Salvage value $ 50,000 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.) years