Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $112,862 per year. Other information about this proposed project follows: Initial investment $ 515, 350 Useful life 10 years Salvage value $ 47, 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