M11-4 Calculating Accounting Rate of Return, Payback Period [LO 11-1, 11-2] Blue Marlin Company is considering the purchase of new equipment for its factory. It will cost $241,000 and have a $48,200 salvage value in five years. The annual net income from the equipment is expected to be $26,510, and depreciation is $38,560 per year. Calculate Blue Marlin's annual rate of return and payback period for the equipment. (Do not round intermediate calculations. Round your Payback period to 2 decimal places.) % Annual Rate of Return Payback Period Years