Robins Hardware is adding a new product line that will require an investment of $$1,454,000.$ Managers estimate that this investment will have a $10-$year life and generate net cash

inflows of $$330,000$ the first year, $$280,000$ the second year, and $$240,000$ each year thereafter for eight years. Assume the project has no residual value. Compute the ARR for the

investment. Round to two places.

Select the formula, then enter the amounts to calculate the ARR $($accounting rate of return$)$ for the new product line. $($Round ARR to the nearest hundredth percent $[$two

decimal places$],$ X$.$XX$\%.)$