Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $82,998 per year. Other information about this proposed project follows:

Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to Increase its net Income by $82,998 per year. Other Information about this proposed project follows: Initial investment Useful life Salvage value $378,985 7 years $ 51,00 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.) 2. Payback periode n 1. Accounting Rate of Return 2. Payback Period A years