Lakeside incorporated is considering replacing old production equipment with state-of the ant technology that wil allow production cost savings of $10,000 per month. The new equipment will have a five-year life and cost $390,000, with an estimated salvage value of $40.000. Lakeside's cost of capital is 10%, Lakeside incorporated uses a straight-line depreciation method Required: Calculate the payback period and the accounting rate of return for the new production equipment Note: Round your answers to 2 decimal places