MANAGEMENT ACCOUNTING (ACCT 2120) Gradebook ORION D Exercise 12-9 Legend Service Center just purchased an automobile hoist for $31,200. The hoist has an 8-year life and an estimated salvage value of $3,500. charges were $4,130 and $750, respectively. Legend uses straight-line depreciation. Each muffler sells for $76 installed. The cost of a muffler is $37, and the labor cost to install a muffler is $12. Compute the cash payback period for the new hoist. (Round answer to 2 decimal places, e.o, 10.50.) estimates that the new hoist will enable his rm dy Cash payback period Compute the annual rate of return for the new hoist. (Round answer to 1 decimal place, e.g. 10.5.) Annual rate of return