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The M-8 Avenger is the default assault rifle in ME2. It is available once the player starts the Freedom's Progress mission. Compared to other assault rifles, it does minimal damage, but also has low recoil.
The M-8 Avenger has 400 rounds, and 20 rounds per clip. Through player driven tests, It has been determined that it has a a base DPS of 100 damage per second. According to an official post
on the Bioware forums. it does 1.25 extra damage to armor, shields, and barriers. This makes it an effective weapon in all missions during the game.
A real life replica was made by Harrison Krix on Aug 24, '10. [Source