Hardware is adding a new product line that will require an investment of $ 1 comma 476 comma 000$1,476,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $ 300 comma 000$300,000 the first year, $ 280 comma 000$280,000 the second year, and $ 240 comma 000$240,000 each year thereafter for eight years. Assume the project has no residual value. Compute the ARR for the investment. Round to two places. Select the formula, then enter the amounts to calculate the ARR (accounting rate of return) for the new product line. (Round ARR to the nearest hundredth percent [two decimal places], X.XX%.) / = ARR / = %