Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $53,000 per year. Other information about this proposed project follows:

Initial investment	$ 510,000
Useful life	8 years
Salvage value	$ 50,000

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.