Linda's Luxury Travel (LLT) is considering the purchase of two Hummer limousines. Various information about the proposed investment follows: Initial Investment 2 11mos) Useful life Salvage value Annual net income generated IT'S cont of capital $1,200,000 10 years $ 130,000 $ 100,000 140 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% Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate accounting rate of return. (Round your answer to 1 decimal place.) Accounting Rate of Rotum % Real Required 2 > S Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate payback period. (Round your answer to 2 decimal places.) Payback Period years