Linda's Luxury Travel (LLT) is considering the purchase of two Hummer limousines. Various information about the proposed investment follows: Initial investment (2 limos) Useful life Salvage value $1,140,000 10 years $ 130,000 Annual net income generated LLT's cost of capital $ 101,460 14 Assume straight line depreciation method is used. Required: Help LLT evaluate this project by calculating each of the following: 1. Accounting rate of return. 2. Payback period. 3. Net present value. 4. Without making any calculations, determine whether the IRR is more or less than 14%. Answer is not complete. Complete this question by entering your answers in the tabs below. < Prev 4 of 5 Next > ints 1. Accounting rate of return. 2. Payback period. 3. Net present value. 4. Without making any calculations, determine whether the IRR is mor Answer is not com Complete this question by entering your answers in the tabs bell Required 1 Required 2 Required 3 Required 4 Calculate payback period. (Round your answer to 2 decimal places.) Payback Period 5.40 years < Required 1 Requ 2 4 Table or Calculator Function: Cash Outflow (Beginning of the Year) points Present Value Table or Calculator Function: Cash Inflow (for Next 10 Years), Table Factor Present Value n n= Table or Calculator Function: Cash Inflow (for 10th Year) n = Table Factor Present Value Total Net Present Value Present Value of $1 Present Value of $1 % % %