A five-year project has an initial fixed non-current asset investment of 270,000, an initial NWC investment of 25,000, and an annual OCF of -41,000. The non-current asset is depreciated 20 per cent reducing balances over the life of the project and has no salvage value.

Required: If the required return is 10 per cent, calculate the projects equivalent annual cost, or EAC? (Do not round intermediate calculations. Round your final answer to 2 decimal places (e.g., 32.16). Do not enter a minus sign if your answer is a negative number. The program includes a margin of error of +/- 0.1%.) Equivalent annual cost

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