Robins Hardware is adding a new product line that wit require an investment of $1,418,000. Managers estimate that this investment will have a 10 -year He and generate net cash inflows of $310,000 the first year, $290,000 the second year, and 5260,000 each year thereafler for eight years Assume the project has no residual value. Compute the ARR for the investment. Round to two places