Payback and ARR Each of the following scenarios is independent. All cash flows are after-tax cash flows Required 1. Michael Kimathi has purchased a tractar for $96,250. He expects to receive a net cash flow of $29,000 per year from the investment. What is the payback period for Michael Round your answer to two decimal places. 3.32 years 2. Bertha Lafferty invested $360,000 in a laundromat. The facility has a 10-year Me expectancy with no expected salvage value. The laundromat will produce a net cash flow of $109,000 per year. What is the accounting rate of return? Enter your answer as a whole percentage value (for example, 16% should be entered as "16" in the answer box). XN 3. Melannie Bayless has purchased a business building for $329,000. She expects to receive the following cash flows over a 10-year period: Year 3: $43,500 4 Year 2: $60,500 Year 3-10: $82,000 What is the payback period for Melannie? Round your answer to one decimal place. years What is the accounting rate of return Enter your answer as a whole percentage value (for example, 16% should be entered as "16" in the answer box).