Whispering Winds Inc. Is considering modernizing its production facility by investing in new equipment and selling the old equipment. The following information has been collected on this investment: Depreciation is $10,120 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 $4,600. Determine the cash payback period. (lgnore income taxes) (Round anower to 3 decimal places, es 15.275) Cash payback period years b) Calculate the arnual rate of return. (Round onswer to 2 decimol places, es 15.25\%)