Question: Henry Hardware is adding a new product line that will require an investment of ( $ 1,512,000 ). Managers estimate that this investment will have

Henry Hardware is adding a new product line that will require

Henry Hardware is adding a new product line that will require an investment of \$ \\$ 1,512,000 \$. Managers estimate that this investment will have a 10 -year life and generate net cash inflows of \$ \\$ 310,000 \$ the first year, \$ \\$ 270,000 \$ the second year, and \$ \\$ 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

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