The expected average rate of return for a proposed investment of $449,400 in a fixed asset with a useful life of 4 years, straight-line depreciation, no residual value, and an expected total net income of $230,480 for the 4 years is (round to two decimal points)

a. 12.82%

b. 0.51%

c. 1.03%

d. 25.64%

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