Blue Marlin Company is considering the purchase of new equipment for its factory. It will cost $257,000 and have a $51,400 salvage value in five years. The annual net income from the equipment is expected to be $30,840, and depreciation is $41,120 per year. Required: Calculate Blue Marlin's accounting rate of return and payback period for the equipment. Note: Do not round intermediate calculations. Round your Payback Period to 2 decimal places