Henry Hardware is adding a new product line that will require an investment of $ 1,512,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $ 310,000 the first year, $ 270,000 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.
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