A four-year project requires an initial investment of $190,000 in fixed assets plus $25,000 in net working capital. The project has before-tax costs of $20,531. The assets belong in a 20% CCA class and will have no salvage value. What is the project's equivalent annual cost if the required return is 14% and the firm's tax rate is 34%? A D. $201,503 B) $159,418 C) $186,474 D) $54,030