Required information PA11-4 (Static) Calculating Accounting Rate of Return, Payback Period, Net Present Value, Estimating Internal Rate of Return [LO 11-1, 11-2, 11-3, 11-4] (The following information applies to the questions displayed below.) Falcon Crest Aces (FCA), Inc., is considering the purchase of a small plane to use in its wing-walking demonstrations and aerial tour business. Various information about the proposed investment follows: $ 110,000 10 years Initial investment Useful life Salvage value Annual net income generated FCA's cost of capital $ 10,000 $ 4,200 10% Assume straight line depreciation method is used. PA11-4 Part 1 Required: Help FCA evaluate this project by calculating each of the following: 1. Accounting rate of return. (Round your answer to 2 decimal places.) Accounting Rate of Return %