Concord was presented with a second capital investment that provided similar production facilities as the first one. This investment cost $400,000, has a useful life of 7 years with a salvage value of $14,000. 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 $25,668 and $80,000 respectively. Concord's 9% cost of capital is also the required rate of return on the investment. Compute the cash payback period. (Round answer to 0 decimal places, es. 25.) Cash payback period years eTextbook and Media Attempts: 1 of 5 used (c2) Compute the annual rate of return. (Round answer to 2 decimal places, eg. 15.25\%)