On January 1, Pete Rowe bought a ski chalet for $58,500. Pete is renting the chalet for $70 per night. He estimates he can rent the chalet for 180 nights. Pete's mortgage for principal and interest is $463 per month. Real estate tax on the chalet is $650 per year. Pete estimates that his heating bill will run $70 per month. He expects his monthly electrical bill to be $20 per month. He pays $12 per month for cable television. a. What is Pete's return on the initial investment for this year? Note: Round your answer to the nearest tenth percent. Pete's return % b. Assume rentals drop by 25% and monthly bills for heat and electricity drop by 10% each month. What would be Pete's return on initial investment? Note: Round your answer to the nearest tenth percent. Pete's return %