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The following data are accumulated by Eco-Labs, Inc. in evaluating two competing capital investment proposals:
Amount of investment Testing equipment: 80,000 Vehicle 28,000Useful Life Testing equipment: 6 years Vehicle 8 yearsEstimated residual value Testing equipment 0 Vehicle 0Estimated total income over the useful life: Testing equipment 13,200 Vehicle 14,000
1. On exercise 10-1, what is the expected average rate of return for testing equipment?
5.5%12.5%18.5%21.5%
2. On exercise 10-1, what is the expected average rate of return for the vehicle?
8.75%12.5%25%28.5%
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