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Part $1$

Malkind Hardware is adding a new product line that will require an investment of $ $1$ comma $454$ comma $000.$ Managers estimate that this investment will have a$10-$year life and generate net cash inflows of $ $310$ comma $000$ the first$$ year, $ $300$ comma $000$ the second$$ year, and $ $250$ comma $000$ 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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Part $1$

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$\%.)$

Average annual operating income

$-$:

Average amount invested

$=$

ARR

$-$:

$=$

$\%$