its not 5.5 or 9.6

Exercise 25-09 Your answer is partially correct. Try again Legend Service Center just purchased an automobile hoist for $32,100. The host has an 8-year life and an estimated salvage value of $3,400. Installation costs and freight charges were $3,600 and $700, respectively. Legend uses straight-line depreciation The new hoist will be used to replace mufflers and tires on automobiles. Legend estimates that the new hoist will enable his mechanics to replace 5 extra mullers per week. Each muffler sells for $75 installed. The cost of a muffer is $40, and the labor cost to install a muffler is $15. (a) Compute the cash payback period for the new host Cash payback period years Compute the annual rate of return for the new hoist (Round answer to 10.529) Annual rate of return