Legend Service Center just purchased an automobile hoist for $37,300. The holst has an 8-year life and an estimated salvage value of $3,800. Installation costs and freight charges were $3,400 and $900, 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 5 extra mufflers per week. Each muffler sells for $74 installed. The cost of a muffler is $40, and the labor cost to installa muffler is 514 (a) Compute the cash payback period for the new Holst Cash payback period Years Compute the annual rate of return for the new hoht. (Round answer to 2 decimal places, es 10.52%. Annual rate of return X e Textbook and Media