Comfort Golf Products is considering whether to upgrade its equipment Managers are considering two options Equipment manufactured by Richland Inc. costs $1,000,000 and will last six years and have no residual value. The Richland equipment will generate annual operating income of $160,000 Equipment manufactured by Riverside Limited costs $1,100,000 and will remain useful for seven years It promises annual operating income of $236,500, and its expected residual value is $110,000 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 answer as a percent rounded to the nearest tenth percent) Accounting rate of return