Sunrise Golf Products is considering whether to upgrade its equipment. Managers are considering two options. Equipment manufactured by Preston Inc. costs $940,000 and will last four years and have no residual value. The Preston equipment will generate annual operating income of $141,000. Equipment manufactured by Rustic Limited costs $1,320,000 and will remain useful for five years. It promises annual operating income of $231,000, and its expected residual value is $115,000. Which equipment offers the higher ARR? First, enter the formula, then calculate the ARR (Accounting Rate of Return) for both pieces of equipment. (Enter the answer as a percent rounded to the nearest tenth percent.) Accounting rate of return