Payback, Accounting Rate of Return A clinic is considering the possibility of two new purchases: new MRI equipment and new biopsy equipment. Each project requires an investment of $425,000. The expected life for each is five years with no expected salvage value. The net cash inflows associated with the two independent projects are as follows: Year MRI Equipment $200,000 Biopsy Equipment $50,000 1 2 100,000 150,000 50,000 100,000 3 4 100,000 50,000 200,000 237,500 5 Required: 1. Compute the payback period for each project. Round your answers to two decimal places. Payback Period MRI equipment years Biopsy equipment years Assume that the manager of the clinic accepts only projects with a payback period of three years or less. Will he accept the projects? MRI equipment Biopsy equipment 2. Compute the accounting rate of return for each project. Round your percentage answers two decimal places (for example, 15.617% rounds to 15.62% and should be entered as "15.62" in the answer box). Accounting rate of return % MRI equipment Biopsy equipment %