Harwell Printing Co. is considering the purchase of new electronic printing equipment. It would allow Harwell to increase its net income by $50,615 per year Other information about this proposed project follows: Initial Investment Useful life Salvage value $265,000 4 years $191,cee 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.) 96 1. Accounting Rate of Return 2 Payback Period years