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

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Accounting

The following data are accumulated by Patterson Inc. in evaluating two competing capital investment proposals: Line Item Description Project C Project T Amount of investment $24,000 $96,000 Useful life 4 years 5 years Estimated residual value 0 0 Estimated total income over the useful life $2,400 $22,800 Determine the expected average rate of return for each project. Round your answers to one decimal place

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