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A 6-year project has an initial fixed asset investment of $12,180, an initial NWC investment of $1,160, and an annual OCF of -$18,560. The fixed

A 6-year project has an initial fixed asset investment of $12,180, an initial NWC investment of $1,160, and an annual OCF of -$18,560. The fixed asset is fully depreciated over the life of the project and has no salvage value. Required: If the required return is 14 percent, what is the project's equivalent annual cost, or EAC? (Do not round your intermediate calculations.)

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