A rectangle’s area can be calculated by the formula $A=LW$, where $A$ stands for area, $L$ for length and $W$ for width. A rectangle’s perimeter can be calculated by the formula $P=2(L+W)$, where $P$ stands for perimeter, $L$ for length and $W$ for width. Use the formulas to calculate the rectangle’s area and perimeter if its length is ${14\ {\rm m}}$ and its width is ${10\ {\rm m}}$. (Use m for meters and m^2 for square meters.)