Problem 12-24 Accounting measures of performance The table given below shows how, on average, the market value of a Boeing 737 has varied with its age and the cash flow needed in each year to provide a 11% return. (For example, if you bought a 737 for $19.73 million at the start of year 1 and sold it a year later, your total profit would be 18.01 +3.89 - 19.73 = $2.17 million, 11% of the purchase cost.) Assume airlines write off their aircraft straight-line over 15 years to a salvage value equal to 25% of the original cost. Cash Flow Start of Year Market Value 1 19.73 2 18.01 3 16.83 4 15.80 5 14.93 6 14.11 7 13.40 8 12.70 9 12.09 10 11.48 11 10.95 10.41 13 9.95 14 9.46 15 9.05 16 8.61 3.89 3.16 2.88 2.61 2.46 2.26 2.17 2.01 1.94 1.79 1.74 1.61 1.58 1.45 1.44 12 a. Calculate economic depreciation, book depreciation, economic return, and book return for each year of the plane's life. (Leave no cells blank - be certain to enter "O" wherever required. Do not round intermediate calculations. Enter your answers in millions except for percentage values. Round your percentage answers to 1 decimal place and other answers to 2 decimal places.) Start of Year Economic Book depreciation depreciation Economic return (%) Book return (%) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 b-1. Suppose an airline invested in a fixed number of Boeing 737s each year. Calculate the steady-state book rate of return. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Steady-state book rate of return %