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 13% return. (For example, if you bought a 737 for $19.77 million at the start of year 1 and sold it a year later, your total profit would be 18.03 + 4.31 19.77 = $2.57 million, 13% of the purchase cost.) Assume airlines write off their aircraft straight-line over 15 years to a salvage value equal to 10% of the original cost.

Calculate economic depreciation, book depreciation, economic return, and book return for each year of the planes life. (Leave no cells blank - be certain to enter "0" 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.)

StartofYear12345678910111213141516MarketValue19.7718.0316.8715.8214.9714.1313.4412.7212.1311.5010.9910.439.999.489.098.63CashFlow4.313.503.242.912.792.532.472.242.212.011.991.801.811.621.64 \begin{tabular}{|c|c|c|c|c|} \hline Start of Year & Economicdepreciation & Bookdepreciation & Economicreturn(%) & Bookreturn(%) \\ \hline 1 & & & & \\ \hline 2 & & & & \\ \hline 3 & & & & \\ \hline 4 & & & & \\ \hline 5 & & & & \\ \hline 6 & & & & \\ \hline 7 & & & & \\ \hline 8 & & & & \\ \hline 9 & & & & \\ \hline 10 & & & & \\ \hline 11 & & & & \\ \hline 12 & & & & \\ \hline 13 & & & & \\ \hline 14 & & & & \\ \hline 15 & & & & \\ \hline 16 & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} 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.)