M11-5 (Algo) Calculating Accounting Rate of Return, Poyback Period [LO 11-1, 11-2] Blue Marlin Company is considering the purchase of new equipment for its factory It will cost $245,000 and have a $49,000 salvage value in five years. The annual net income from the equipment is expected to be $29.400, and depreciation is $39200 per yeaz: Required: Calculate Blue Marlin's accounting rate of teturn and poyback period for the equpment. Note: Do not round intermediate calculations. Round your Payback Period to 2 decimal places