Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $88,355 per year. Other information about this proposed project follows: Initial investment Useful life Salvage value $ 431,000 8 years $ 56,000 Assume straight line depreciation method is used. Required: 1. Calculate the accounting rate of return for Bartlett. Note: Round your percentage answer to 2 decimal places. 2. Calculate the payback period for Bartlett. Note: Round your answer to 2 decimal places. 1. Accounting Rate of Return 2. Payback Period % years