Robinson Hartware is adding a new product Ine that will require an imvestment of $1,418,000. Manogers estimate that this investment will have a 10 -year life and genetase net cash inflows of $320,000 the first year, $280,000 the second year, and $240,000 each year thereafter for eight years. Assume the project has no rosidual value. Compute the ARR for the investment. Round to two places