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Average rate of return

The following data are accumulated by Patterson Inc. in evaluating two competing capital investment proposals:

Line Item DescriptionProject CProject TAmount of investment$$48,000$$$64,000$Useful life$4$ years$7$ yearsEstimated residual value$00$Estimated total income over the useful life$$7,200$$$24,640$

Determine the expected average rate of return for each project. Round your answers to one decimal place.

Line Item DescriptionPercentagesProject Cfill in the blank $1\%$Project Tfill in the blank $2\%$