Turner Hardware is adding a new product line that will require an investment of $1,470.000. Managers estimate that this investment will have a 10-year lfe and generate net cash inflows of $305,000 the first year, $275,000 the socond yeat, and $255,000 each year thereatter for eight years. The investment has no residual value. Compute the ARR for the investment Fint onier the formula, then compule Bhe ARR of the new product line: (Enter your answer as a percent rounded to tho decimal places.) Accounteno = rate of cetum