value: 2.00 points M11-4 Calculating Accounting Rate of Return, Payback Period [LO 11-1, 11-2] Blue Marin Company is considering the purchase of new equipment for its factory. It will cost $253,000 and have a $50,600 salvage value in five years. The annual net income from the equipment is expected to be $27,830, and depreciation is $40,480 per year. Calculate Blue Marlin's annual rate of retum and payback period for the equipment. (Do not round intermediate calculations. Round your Payback period to 2 decimal places.) Annual Rate of Return Payback Period Years