Can you help me with this accounting problem please and can you tell me what will be the IRR if there was a residual value of 225000. thank you

Playland Products is considering producing toy action figures and sandbox toys. The products require different specialized machines, each costing $1 million. Each machine has a five-year life and zero residual value. The two products have different patterns of predicted net cash inflows. (Click the icon to view the data.) Calculate the sandbox toy project's ARR. If the sandbox toy project had a residual value of $225,000, would the ARR change? Explain and recalculate if necessary. Does this investment pass Playland's ARR screening rule? First, enter the formula, then compute the ARR of the sandbox toy project. (Enter amounts in dollars, not millions. Enter your answer as a percent rounded to two decimal places.) Accounting rate of return Average annual operating income from asset I Initial investment = i Data Table Annual Net Cash Inflows Year 1............... Toy action Sandbox toy figure project project 306,650 $ 550,000 306,650 390,000 306,650 300,000 306,650 260,000 306,650 50,000 3... . 4........... 5.... 1,533,250 $ 1,550,000 Total Playland will consider making capital investments only if the payback period of the project is less than 3.5 years and the ARR exceeds 8%. Print Done Enter any number in the edit fields and then click Check