Raas Hardware is adding a new product line that will require an investment of $1,454,000. Managers estimate that this investment will have a​ 10-year life and generate net cash inflows of $310,000 the...

Hardware is adding a new product line that will require an investment of

Managers estimate that this investment will have a​ 10-year life and generate net cash inflows of

the first​ year,

the second​ year, and

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%.)