Archer Hardware is adding a new product line that will require an investment of $1,480,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $305,000 the first year, 280,000 the second year, and $250,000 each year thereafter for eight years. The investment has no residual value. Compute the ARR for the investment.

Firs ecsor the lomula, thon compute the ARR ef the new prodict ine. (Enter yoor answer as a percunt rounded to bro decimat placos) Accointing Average antual operating income from asset Ineal fropestment = rate of rotain First, anter the formula then compute the ARR of the new product line (Enter your answer as a percent rounded to two decimal places.)