Crane Service Center just purchased an automobile hoist for \$32100. The hoist has an 8-year life and an estimated salvage value of $3,200. Installation costs and freight charges were $3,500 and $800, respectively. Crane uses straight-line depreciation. The newhoist will be used to replace mutfiers and tires on automobiles. Crane estimates that the new hoist will enable its mechanics to replace 5 extra mufflers per week. Each muffler sells for $74 installed. The cost of a muffler is $39, and the labor cost to install a muffler is $15. (a) Compute the cash payback period for the new hoist. Cashpayback period years (b) Compute the arinual rate of return for the new hoist. (Round answer to 2 decimol places, e.g. 10.528,) Annual rate of return