E11-1 (Algo) Calculating Accounting Rate of Return, Payback Period (LO 11-1, 11-2) Harwell Printing Co. Is considering the purchase of new electronic printing equipment. It would allow Harwell to increase its net Income by $32,400 per year. Other Information about this proposed project follows: Initial Investment Useful life Salvage value $180,000 3 years $ 90,000 Assume straight line depreciation method is used, Required: 1. Calculate the accounting rate of return for Harwell. (Round your percentage answer to 1 decimal place.) 2. Calculate the payback period for Harwell. (Round your answer to 2 decimal places.) ces % 1. Accounting Rate of Return 2. Payback Period years