Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $88,259 per year. Other information about this proposed project follows: Initial investment $ 424, 320 Useful life 8 years Salvage value $ 49 , 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