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Determine the average rate of return for a project that is estimated to yield total income of $352,920 over six years, has a cost of

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Determine the average rate of return for a project that is estimated to yield total income of $352,920 over six years, has a cost of $615,900, and has a $76,100 residual value. % The following data are accumulated by Lone Peak Inc. in evaluating two competing capital investment proposals: 3D Printer Truck Amount of investment $64,000 $64,000 Useful life 4 years 7 years Estimated residual value 0 0 Estimated total income over the useful life $5,120 $16,800 Determine the expected average rate of return for each proposal. If required, round your answers to one decimal place. 3D Printer % Truck %

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