A 8-year project has an initial fixed asset investment of $44,100, an initial NWC investment of $4,200, and an annual OCF of -$67,200. 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.)

Multiple Choice

$-44,819.91

$-65,700.44

$-73,429.91

$-77,294.64

$-81,159.37