can you please explain how to find this and explain how the forumla works

hu XEM11-21 (similar to) uestion Help Robertson Hardware is adding a new product line that will require an investment of $1,454,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $330,000 the first year, $300,000 the second year, and $260,000 each year thereafter for eight years. Assume the project has no residual value. Compute the ARR for the investment. Round to two places ame Select the formula, then enter the mounts to calculate the ARR (accounting rate of return) for the new product line. (Round ARR to the nearest hundredth percent Two decimal places), XXX%) ARR