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Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $90,775 per

Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $90,775 per year. Other information about this proposed project follows: Initial investment Useful life Salvage value $ 416,400 8 years $ 41,000 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. Answer is complete but not entirely correct. 1. Accounting Rate of Return 2. Payback Period 39.69 % 8.87 years

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