Kimmel, Accounting, 6e PRIN. OF ACCT ISIT (ACCT 2101 & 2102 Assignment Gradebook ORION Downloadable eTextbook CALCULATOR PULL SCREEN PRINTER VERSION BACK NEXT Exercise 24-9 Legend Service Center just purchased an automobile hoist for $35,100. The hoist has an 8-year life and an estimated salvage value of $3,760. Installation costs and freight charges were $4,130 and $730, respectively. Legend uses straight-line depreciation. The new hoist will be used to replace mufflers and tires on automobiles. Legend estimates that the new hoist will enable his mechanics to replace extra milers per week. Each morsels for $71 Installed. The cost of a mueris , and the labor cost to n a mumeris $14. Compute the cash payback period for the new hoist. (Round answer to decimal places... 10.50) Cash payback period Compute the rate of return for the new hot (Round answer to decimal 10.5.) Annual rate of return Click you would he te Shew Work for this question on how LINK TO TEKTIR TO TEXT Question Attempts Unlimited LA B ITANTS MacBook Pro