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 foctory, It will cost $249,000 and have a $49,800 salvage value in five years. The annual net income from the equlpment is expocted to be $29,880, and depreciation is $39,840 per yoar. Required: Calculate Blue Marlin's accounting rate of return and payback period for the equipment. Note: Do not round intermediate calculations. Round your Payback Period to 2 decimal places