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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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