chdorf Company invested $8,500,000 in a new product line. The life cycle of the product is projected to be 7 years with the following net income stream: $360,000, $360,000, $650,000, $1,080,000, $1,300,000, $2,520,000, and $1,542,000.

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below.

Open spreadsheet

Required:

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

fill in the blank 2