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 Annual net income generated LLT'S cost of capital $1,440,000 10 years $ 130,000 $ 135,360 140 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 payback period. (Round your answer to 2 decimal places.) years Payback Period . NOMS Table or Calculator Function: Cash Outflow (Beginning of the Year) Present Value of $1 $ (1.440,000) n = 0 es i = Present Value 14% 1,440,000 $ Table or Calculator Function: Cash Inflow (for Next 10 Years) Present Value Annuity of $1 n = 10 i = A 14 % Table Factor Present Value Present Value of $1 Table or Calculator Function: Cash Inflow (for 10th Year) na i = 10 14% Table Factor Present Value Total Net Present Value