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A five - year project has an initial fixed asset investment of $ 2 8 0 , 0 0 0 , an initial NWC investment

A five-year project has an initial fixed asset investment of $280,000, an initial NWC investment of $24,000, and an annual OCF of $23,000. The fixed asset is fully depreciated over the life of the project and has no salvage value. If the required return is 12%, what is this project's equivalent annual cost, or EAC? (Negative answer should be indicated by a minus sign. Do not round your intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
Equivalent annual cost
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