Flelding Hardware is edding a new product line.that will requite an irvestment of $1,470,000. Manegers estimate that this investreint will have a 10 -year life and generate net cash inflows of $330,000 the first year, $275,000 the second year, and $225,000 each year thereatter for eight years, The investment has no resifual value. Compule the ARR for the investment First, enter the formula, then conquite the ARR of the new product ine. (Enter your answer as a percent rounded to two deoimat places-) Acopunting = tate of retur