Sunrise Golf Products is considering whether to upgrade its equipment. Managers are considering two options. Equipment manufactured by Preston Inc. costs $1,000,000 and will last four years and have no residual value. The Preston equipment will generate annual operating income of $160,000. Equipment manufactured by Riverbank Limited costs $1,170,000 and will remain useful for five years. It promises annual operating income of $234,000, 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