M11-5 (Algo) 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 \\( \\$ 251,000 \\) and have a \\( \\$ 50,200 \\) salv value in five years. The annual net income from the equipment is expected to be \\( \\$ 27,610 \\), and depreciation is \\( \\$ 40,160 \\) per year. Required: Calculate Blue Marlin's accounting rate of return and payback period for the equipment. Note: Do not round intermediate colculations. Round your Payback Period to 2 decimal ploces