A five$-$year project has an initial fixed asset investment of $$345,000,$ an initial NWC

investment of $$25,000,$ and an annual OCF of $-$$$41,000.$ The fixed asset is fully

depreciated over the life of the project and has no salvage value. If the required

return is $11$ percent, what is this project's equivalent annual cost, or EAC?

Input area:

$($Use cells A$6$ to B$10$ from the given information to complete this question. You must use the

built$-$in Excel function to answer this question.$)$

Output area: