Accounting Rate of Return

Cannon Company invested $$8,000,000$ in a new product line. The life cycle of the product is projected to be $8$ years with the following net income stream: $$200,000,$ $$200,000,$ $$300,000,$ $$700,000,$ $$800,000,$ $$1,100,000,$ $$2,000,000,$ and $$1,100,000.$

Required:

Calculate the ARR. Enter your answer as a decimal, do not convert to a percent.