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Cannon Company invested $8,000,000 in a new product line. The life cycle of the product...

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Accounting

Cannon Company invested $8,000,000 in a new product line. The life cycle of the product is projected to be 8 years with the following net income stream: $400,000, $300,000, $700,000, $800,000, $1,100,000, $2,000,000, and $1,100,000.

Required:

Calculate the ARR. Enter your answer as a decimal, do not convert to a percent.

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