A 8-year project has an initial fixed asset investment of $34,440, an initial NWC investment of $3,280, and an annual OCF of -$52,480. The fixed asset is fully depreciated over the life of the project and has no salvage value.

Required:

If the required return is 10 percent, what is the project's equivalent annual cost, or EAC? (Do not round your intermediate calculations.)

A $-56,300.39

B $-59,263.57

C $-39,520.85

D $-50,374.04

E $-62,226.75