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 $93,750. He expects to receive a net cash flow of $33,000 per year from the investment. What is the payback period for Michael? Round your answer to two decimal places. years 2. Bertha Lafferty invested $370,000 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 $104,000 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. Melannie Bayless has purchased a business building for $333,000. She expects to receive the following cash flows over a 10-year period: Year 1: $42,000 Year 2: $57,000 Year 3-10: $87,000 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). 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). %