Balloons By Sunset (BBS) is considering the purchase of two new hot air balloons so that it can expand its desert sunset tours. Various information about the proposed investment follows: (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided.)

Initial investment (for two hot air balloons)	$	280,000
Useful life		6	years
Salvage value	$	58,000
Annual net income generated		23,240
BBSs cost of capital		11	%

Assume straight-line depreciation method is used. Required: Help BBS evaluate this project by calculating each of the following: 1. Accounting rate of return. (Round your answer to 2 decimal places.) 2. Payback period. (Round your answer to 2 decimal places.) 3. Net present value (NPV). (Do not round intermediate calculations. A negative amount should be indicated by a minus sign. Round the final answer to the nearest whole dollar.) 4. Recalculate the NPV assuming BBS's cost of capital is 14 percent. (Do not round intermediate calculations. A negative amount should be indicated by a minus sign. Round the final answer to the nearest whole dollar.)