The St. Louis to Seattle Railroad is considering acquiring equipment at a cost of $212,000. The equipment has an estimated life of 10 years and no residual value. It is expected to provide yearly net cash flows of $53,000. The company's minimurn desired rate of return for net present value analysis is 10%. Present Value of an Annuity of $1 at Compound interest Compute the following: a. The average rate of return, giving effect to straight-line depreciation on the investment. If required, round your answer to one decimal place. b. The cash payback period