Vanessa Company is evaluating a project requiring a capital expenditure of $480,000. The project has an estimated life of 4 years and no salvage value. The estimated net income and net cash flow from the project are as follows:

Year	Net Income	Net Cash Flow
1	$90,000	$210,000
2	80,000	200,000
3	40,000	160,000
4	30,000	150,000
Total	$240,000	$720,000

The company's minimum desired rate of return for net present value analysis is 15%. The factors for the present value of $1 at compound interest of 15% for 1, 2, 3, and 4 years are 0.870, 0.756, 0.658, and 0.572, respectively.

Determine (a) the average rate of return on investment and (b) the net present value for the project. a. Average rate of return on investment fill in the blank 1 of 2% b. Net present value fill in the blank 2 of 2$