Middleton Classics, a chain of exclusive furniture stores, is considering renting space in a new shopping mall. It is anticipated that this rental will require an investment in fixtures and equipment costing $500,000, with an estimated salvage value of $25,000 at the end of its useful life in ten years. The new store is expected to generate an annual net cash flow of $110,000. The owner desires a 20% annual return on investment and wants a payback period of less than four years. Ignore the impact of taxes.

		IRR
Annual	Salvage	Combined
Cash Flow	Value	Flows
		-500000
110000	0	110000
110000	0	110000
110000	0	110000
110000	0	110000
110000	0	110000
110000	0	110000
110000	0	110000
110000	0	110000
110000	0	110000
110000	25000	135000

please provide all the four answer with the excel formula in detail: pay back period,accounting average rate of return,npv,irr.