Average Rate of Return The following data are accumulated by Eco Labs, Inc. in evaluating two competing capital investment proposals: Testing Equipment $60,000 4 years Vehicle Amount of investment Useful life Estimated residual value Estimated total income over the useful life Determine the expected average rate of return for each proposal. If required, round your answers to one decimal $64,000 9 years $6,000 $24,480 place. Testing Equipment Vehicle