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A project has an initial outlay of $2,973. The project will generate cash flows of $961 in Years 1-5. What is the Equivalent Annual Annuity

A project has an initial outlay of $2,973. The project will generate cash flows of $961 in Years 1-5. What is the Equivalent Annual Annuity (EAA) of this project? Assume an interest rate of 13%.

Note: Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

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