Lakeside incorporated is considering replacing old production equipment with state-of-the-art technology that will allow production cost savings of $10,000 per mopth. The new equipment will have a five-year life and cost $420.000, with an estimated salvade value or $33,000 tatesid s cost of copitaf is 7%. Lakeside incorporated uses a straight-ine depreciation method Required: Calculate the payback period and the sccounting rote of return for the new production equipment: Noter Poumd your answers to 2 decimal places