Average rate of return
The following data are accumulated by ChemLab Inc. in evaluating two competing capital investment proposals:
Testing Equipment | Vehicle | |
Amount of investment | $86,000 | $30,000 |
Useful life | 6years | 8years |
Estimated residual value | 0 | 0 |
Estimated total income over the useful life | $18,060 | $12,000 |
Determine the expected average rate of return for each proposal.
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