Brady Service Center just purchased an automobile hoist for $33,470. The hoist has an 8-year life and an estimated salvage value of $3,340. Installation costs and freight charges were $3,707 and $740, respectively. Brady uses straight-line depreciation. The new hoist will be used to replace mufflers and tires on automobiles. Brady estimates that the new hoist will enable his mechanics to replace 6 extra mufflers per week. Each muffler sells for $73 installed. The cost of a muffler is $36, and the labor cost to install a muffler is $15. Compute the cash payback period for the new hoist. (Round answer to 2 decimal places, e.g. 10.50.) Compute the annual rate of return for the new hoist. (Round answer to 1 decimal place, e.g. 10.5.)