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Average Rate of Return The following data are accumulated by McDermott Motors Inc. evaluating two competing capital investment proposals: Testing Equipment Diagnostic Software Amount of investment $64,000 $40,000 Useful life 4 years 7 years Estimated residual value $0 $0 Estimated total income over the useful life $5,760 $13,300 Determine the expected average rate of return for each proposal. If required, round to one decimal place. Testing Equipment Diagnostic SoftwareAverage Rate of Return-Cost Savings Sager Industries is considering an investment in equipment that will replace direct labor. The equipment has a cost of $125,000 with a $11,000 residual value and a 10-year life. The equipment will replace three employees who has an average total wages of $20,840 per year. In addition, the equipment will have operating and energy costs of $6,040 per year. Determine the average rate of return on the equipment, giving effect to straight-line depreciation on the investment. yo