Waterway Inc. is considering modernizing its production facility by investing in new equipment and selling the old equipment. The following information has been collechad on this investment: Depreciation is \\( \\$ 10.210 \\) per year for the old equipment. The straight-line depreciation method would be used for the new equipment over an eight-year period with salvage value of \\( \\$ 5,000 \\). Determine the cash payback period. (Ignore income taxes.) (Round answer to 3 decimal places, e.g. 15.275.) eTextbook and Media (b) Calculate the annual rate of return. (Round answer to 2 decimal places, e.g. 15.25\\%.) Annual rate of return \ eTextbook and Media