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Bartlett Car Wash Company is considering the purchase of a new facility. It would allow...

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Accounting

Bartlett Car Wash Company is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $79,958 per year. Other information about this proposed project follows:

Initial investment $ 377,160
Useful life 7 years
Salvage value $ 49,000

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.

  1. Calculate the payback period for Bartlett.

Note: Round your answer to 2 decimal places.

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