You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $48,000 at the end of each year for the next 7 years. You expect to earn 10 percent each year. Required: 1. Determine how much you will have saved after 7 years. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places.) Balance in the Savings Account 2. Determine the amount saved if you were able to deposit $53,000 each year. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places.) Balance in the Savings Account 3. Determine the amount saved if you deposit $48,000 each year, but with 14 percent interest. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places.) Balance in the Savings Account Harwell Printing Co. is considering the purchase of new electronic printing equipment. It would allow Harwell to increase its net income by $45,864 per year. Other information about this proposed project follows: Initial investment $252,000 Useful life 5 years Salvage value $ 92,000 Assume straight line depreciation method is used. Required: 1. Calculate the accounting rate of return for Harwell. (Round your percentage answer to 1 decimal place.) Accounting Rate of Return 2. Calculate the payback period for Harwell. (Round your answer to 2 decimal places.) Payback Period Payback Years Years