You are an analyst for Trust Funds and are looking at two potential investments to add to an already diverse portfolio. You are able to ascertain the past returns of each investment and believe that future returns could be expected to be similar. You believe that these investments can be assessed both in isolation and as part of the portfolio.

INVESTMENT 1
Year	Cash Flow	Opening Val.	Closing Val
1	1000	20000	22000
2	900	22000	21000
3	1600	21000	24000
4	400	24000	22000
5	2000	22000	23000
6	2000	23000	26000
7	900	26000	25000
8	2500	25000	24000
9	2100	24000	27000
10	2200	27000	30000

INVESTMENT 2
Year	Cash Flow	Opening Val.	Closing Val.
1	1500	20000	20000
2	1600	20000	20000
3	1700	20000	21000
4	1800	21000	22000
5	1900	22000	23000
6	2000	23000	23000
7	2100	23000	23000
8	2200	23000	24000
9	2300	24000	25000
10	2400	25000	25000

The market returns for the same period have been as follows:

Market Returns for period
Year		Market	Year	Market
1		9%	1	11%
2		7%	2	8%
3		12%	3	11%
4		12%	4	10%
5		10%	5	9%

Calculate the annual return on investment per annum for both investments over the past 10 years, and then calculate the average return. (Assume that the stated cash flows equate to EBIT in each case).