Harwell Printing Co. is considering the purchase of new electronic printing equipment. It would allow Harwell to increase its net income by $53,253 per year. Other information about this proposed project follows:

Harwell Printing Co. is considering the purchase of new electronic printing equipment. It would allow Harwell to Increase its net Income by $53,253 per year. Other Information about this proposed project follows: Initial investment Useful life Salvage value $ 291, eee 6 years $ 93,000 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.) 1. 2. Accounting Rate of Return Payback Period years