Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $73,963 per year. Other information about this proposed project follows:

Initial investment	$ 339,280
Useful life	6 years
Salvage value	$ 58,000

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.