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Blue Marlin Company is considering the purchase of new equipment for its factory. It will cost $240,000 and have a $48,000 salvage value in five

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Blue Marlin Company is considering the purchase of new equipment for its factory. It will cost $240,000 and have a $48,000 salvage value in five years. The annual net income from the equipment is expected to be $28,800, and depreciation is $38,400 per year. Calculate Blue Marlin's annual rate of return and payback period for the equipment. (Do not round intermediate calculations. Round your Payback Period to 2 decimal places.) Annual Rate of Return Payback Period Years

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