19. A four-year project requires an initial investment of $165.000 in fixed assets plus $25,000 in net working capital. The project has an operating cash flow of -$14.500. The assets are fully depreciated over the life of the project and have no salvage value. What is the project s equivalent annual cost if the required return is 14%? a. $79,709 b. $74,629 c. $176,903 d. $217,447 e. $232.249