E11-2 (Algo) Calculating Accounting Rate of Return, Payback Period (LO 11-1, 11-2] Bartlett Car Wash Co is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $103.495 per year. Other information about this proposed project follows Initial investment Useful life Salvage value $512,350 10 years $ 44, ,00 N Assume straight line depreciation method is used Required: 1. Calculate the accounting rate of return for Bartlett. (Round your percentage answer to 2 decimal places.) 2. Calculate the payback period for Bartlett (Round your answer to 2 decimal places.) --- Initial investment Useful life Salvage value $512,350 10 years $ 44,000 Assume straight line depreciation method is used, Required: 1. Calculate the accounting rate of return for Bartlett (Round your percentage answer to 2 decimal places.) 2. Calculate the payback period for Bartlett. (Round your answer to 2 decimal places.) % 1. Accounting Rate of Return 2. Payback Period I years