Ironzee Industries is adding a new product line that will require an investment of $1,288,000. It is estimated this investment will have a 8-year life and will generate net cash inflows of $292,000 the first year, $273,000 during the second year, and $235,000 each year thereafter for 6 years. The project will have $0.00 residual value. Compute the ARR for the investment. (Round your answers to two decimal places when needed and use rounded answers for all future calculations)