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 tractor for $86,250. He expects to receive a net cash flow of $32,500 per year from the investment. What is the payback penod for Michael? Round your answer to two decimal places. years 2. Bertha Lafferty invested $375,000 in a laundromat. The facility has a 10-year life expectancy with no expected salvage value. The laundromat will produce a net cash flow of $116,000 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). % 3. Melanie Bayless has purchased a business building for $323,000. She expects to receive the following cash flows over a 10-year period: Year 1 $46,000 Year 2: $55,000 Year 3-10: $86,000 What is the payback penod 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).