Average rate of return

The following data are accumulated by Patterson Inc. in evaluating two competing capital investment proposals:

Line Item Description Project C Project T

Amount of investment $$60,000$ $$28,000$

Useful life $4$ years $5$ years

Estimated residual value $00$

Estimated total income over the useful life $$7,800$ $$6,650$

Determine the expected average rate of return for each project. Round your answers to one decimal place.

Line Item Description Percentages

Project C fill in the blank $1$

$7$

$\%$

Project T fill in the blank $2$

$5$

$\%$