Accounting Rate of Return

Vanderhoort Company invested $$10,330,000$ in a new product line. The life cycle of the product is projected to be seven years with the following net income stream: $$360,000,$$$360,000,$$$600,000,$$$1,080,000,$$$1,200,000,$$$2,520,000,$ and $$1,444,000.$

Required:

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