A companys weighted average cost of capital is 10.4% per year. A project requires an investment of $1,200 today and it is expected to generate free cash flows of $400 per year for the next four years. What is the projects equivalent annual annuity?

Question 5 options:

A)

$13.7

B)

$18.1

C)

$22.1

D)

$20.3

E)

$15.4