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Falcon Crest Aces $($FCA$),$ Incorporated, 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:

Assume straight line depreciation method is used.

Help FCA evaluate this project by calculating each of the following:

$1.$ Accounting rate of return.

$2.$ Payback period.

Note: Round your answer to $2$ decimal places.

$3.$ Net present value $($NPV$).($Future Value of $$1,$ Present Value of $$1,$ Future Value Annuity of $$1,$ Present Value Annuity of $$1.)$

$4.$ Recalculate FCA's NPV assuming the cost of capital is $3$ percent. $($Future Value of $$1,$ Present Value of $$1,$ Future Value Annuity of $$1,$ Present Value Annuity of $$1.)$