Average Rate of Return The following data are accumulated by Green Apple Motors Inc. evaluating two competing capital investment proposals: Testing Equipment Diagnostic Software Amount of investment $88,000 $72,000 Useful life 4 years 9 years Estimated residual value $0 $0 Estimated total income over the useful life $7.920 $25.920 Determine the expected average rate of return for each proposal. If required, round to one decimal place. % Testing Equipment % Diagnostic Software Average Rate of Return The following data are accumulated by Green Apple Motors Inc. evaluating two competing capital investment proposals: Testing Equipment Diagnostic Software Amount of investment $88,000 $72,000 Useful life 4 years 9 years Estimated residual value $0 $0 Estimated total income over the useful life $7.920 $25.920 Determine the expected average rate of return for each proposal. If required, round to one decimal place. % Testing Equipment % Diagnostic Software