Average rate of return The following data are accumulated by Patterson Inc. in evaluating two competing capital investment proposals: Amount of investment Useful life Estimated residual value Estimated total income over the useful life Project C Project T $52,000 $24,000 4 years 5 years 0 $6,760 $6,600 Determine the expected average rate of return for each project. Round your answers to one decimal place. Project C 4.5 X % Project T 8 X % Feedback