Joe's Hardware is adding a new product line that will require an investment of $1,418,000. Managers estimate that this investment will have $245,000 each year thereafter for eight years. The investment has no residual value. Compute the ARR for the investment. First, enter the formula, then compute the ARR of the new product line. (Enter your answer as a percent rounded to two decimal places.) Average annual net cash inflow +Initial investment = Accounting rate of return = % timate that this investment will have a 10-year life and generate net cash inflows of $320,000 the first year, $300,000 the second year, and for the investment. rounded to two decimal places.) ting eturn