Current Attempt in Progress Laramie Service Center just purchsed an automobile hoht for $16,900. The hoist has a 5 year life and an estimated salvage value of $1.250. Iestallation costs were $3,770 and freight charges were $960. Laramie uses straight-line deprecistion The new hoist will be used to replaxe mutfers and tires on augomcbiles. Laramie estimates that the new hoist will enable his mechanics to replace four extra mufflers per week. Each mutfler sells for $85 installed. The cost of a mutfler is $46, and the labor cost to imstall a muther is $13 Compute the prybak period for the rew hoist. (Round answer to 0 decimal aloces es, 125) Compontaxk period wears eTextbook and Media Compute the annux rate of return for the new hoist. (Plound answer to 1 decimal place, es 15.2.) Annalrate of return eTextbook and Media