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 $72,000 $68,000 Useful life 4 years 5 years Estimated residual value 0 0 Estimated total income over the useful life $5,760 $12,750 Determine the expected average rate of return for each project. Round your answers to one decimal place.

Average rate of return The following data are accumulated by Patterson Inc. in evaluating two competing capital investment proposals: Determine the expected average rate of retum for each project. Round your answers to one decimal place. ProjectCProjectT%% Fendback F check hy Wok Divide the estimated average annual income by the average investment. Investment cost plus estimated residual value, divided by two, equals average investment