Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $75,818 per year. Other information about this proposed project follows: Initial investment Useful life Salvage value $375,335 $ 47,000 1. Accounting Rate of Return 2. Payback Period 7 years Assume straight line depreciation method is used. Required: 1. Calculate the accounting rate of return for Bartlett. (Round your percentage answer to 2 decimal places.) 2. Calculate the payback period for Bartlett. (Round your answer to 2 decimal places.) % years

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