A company's weighted average cost of capital is 11% per year. A project requires an investment cost of $4,800 today and it is expected to generate free cash flows of $2,000 per year for the next five years. What is the project's equivalent annual annuity (EAA)? 1) $711.1 2) $732.9 3) $701.3 4) $70.3 5) $695.3