Payback and ARR Each of the following scenarios is independent. All cash flows are after-tax cash flows. Required: years 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 $331,000. She expects to receive the following cash flows over a 10 -year period: Year 1: $48,000 Year 2: $61,000 Year 3-10: $86,800 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). %