please help me understand this question and how to get each step. Thank you for your time!

Initial investment (for two hot air balloons) Useful life Salvage value Annual net income generated BBS's cost of capital $ 332,000 7 years $ 52,000 30,212 Assume straight line depreciation method is used. Required: Help BBS evaluate this project by calculating each of the following: 1. Accounting rate of return (Round your answer to 2 decimal places.) 2. Payback period. (Round your answer to 2 decimal places.) 3. Net present value (NPV), (Do not round intermediate calculations. Negative amount should be indicated by a minus sign. Round the final answer to nearest whole dollar.) 4. Recalculate the NPV assuming BBS's cost of capital is 14 percent. (Do not round intermediate calculations. Negative amount should be indicated by a minus sign. Round the final answer to nearest whole dollor.) hy each of the following: 1. Accounting rate of return. (Round your answer to 2 decimal places.) 2. Payback period. (Round your answer to 2 decimal places.) 3. Net present value (NPV). (Do not round intermediate calculations. Negative amount should be indicated by a mim the final answer to nearest whole dollar.) 4. Recalculate the NPV assuming BBS's cost of capital is 14 percent. (Do not round intermediate calculations. Negati should be indicated by a minus sign. Round the final answer to nearest whole dollar.) 1. Accounting rate of return 2. Payback period 3. Net present value 4. Net present value assuming 14% cost of capital 9.10% 4 73 years 273,760