Carper Company is considering a capital investment of $352,800 in additional productive facilities. The new machinery is expected to have useful life of 6 years with no salvage value. Depreciation is by the straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be $19,404 and $84,000, respectively. Carper has an 8% cost of capital rate, which is the required rate of return on the investment. (a1) Your answer is correct. Compute the cash payback period. (Round answer to 2 decimal places, e.g. 2.25.) Cash payback period years eTextbook and Media Attempts: 1 of 2 used (a) Compute the annual rate of return on the proposed capital expenditure. (Round answer to 2 decimal places, e.g. 2.25\%.) Annual rate of return %