Walden Industries is considering investing in production−management software that costs $620,000​, has $60,000 residual​ value, and leads to cost savings of $2,310,000 per year over its five−year...

Walden Industries is considering investing in

software that costs

has

residual​ value, and leads to cost savings of

per year over its

life. Calculate the average amount invested in the asset that should be used for calculating the accounting rate of return.