Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow...
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Accounting
Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $112,563 per year. Other information about this proposed project follows:
| Initial investment | $ | 523,550 | |
| Useful life | 10 | years | |
| Salvage value | $ | 55,000 | |
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.)
1.Accounting Rate of Return %
2.Payback Period years
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