Ace Hardware is adding a new product line that will require an investment of $ 1 comma 418 comma 000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $ 290 comma 000 the first year, $ 280 comma 000 the second year, and $ 230 comma 000 each year thereafter for 8 years. Assume the project has no residual value. Compute the ARR for the investment. Round to two places