Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $53,000 per year. Other information about this proposed project follows: Initial investment Useful life $ 510,000 8 years $ 50,000 Salvage value Assume straight line depreciation method is used. Required: 1.) Calculate the accounting rate of return for Bartlett. Note: Round your percentage answer to 2 decimal places. 2.) Calculate the payback period for Bartlett. Note: Round your answer to 2 decimal places.

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