Comfort Golf Products is considering whether to upgrade its equipment. Managers are considering two options. Equipment manufactured by Stenback Inc. costs $1,100,000 and will last six years and have no residual value. The Stonback equipment will generate annual operating income of $170,500. Equipment manutactured by Lakeshore Limited costs $1,170,000 and will remain useful for seven years. It premises annual operating income of $234,000, and its expected residual value is $100,00 Which equipment offers the higher ARR? First, enter the formula, then calculate the ARR (Accounting Rate of Return) for both pieces of equipment. (Enter the answor as a percent rounded to the nearest tenth percent.)