Harwell Printing Co. is considering the purchase of new electronic printing equipment. It would allow Harwell to increase its net income by $38,915 per year. Other information about this proposed project follows: Initial investment Useful life Salvage value $215,000 4 years $ 91,000 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.) Accounting Rate of Relum% 2. Calculate the payback period for Harwell. (Round your answer to 2 decimal places.) ayback Period Years