Turner Hardware is adding a new product line that will require an investment of $1,550,000 Managers estimate that this investment will have a 10-year ide and generate not cash inflows of $305,000 the first year, $285,000 the second year, and $255,000 each year thereafter for eight years. The investment has no residual value. Compute the ARR for the investment First, enter the formula, then compute the ARR of the new product line. (Enter your answer as a percent rounded to two decimal places) Average annual operating income from asset Initial investment 263,000 1,550.000 Accounting rate of return 16.97