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Caruso Hardware is adding a new product line that will require an investment of $ 1 5 0 0 0 0 0 . Managers estimate

Caruso Hardware is adding a new product line that will require an investment of $1500000. Managers estimate that this investment will have a10-year life and generate net cash inflows of $ 335000 the first year, $ 280000 the second year, and $ 245000 each year thereafter for eight years. The investment has no residual value. Compute the ARR for the investment.

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