Hoi is considering an investment proposal with the following cash flows:

Initial invesstment--depreciable assets	$150,000
Net cash inflows from operations (per year for 5 years)	30,000
Disinvestment--depreciable assets	20,000

Required:

a. Determine the payback period.

b. Determine the accounting rate of return on initial investment.

c. Determine the accounting rate of return on average investment.