A project requires a capital investment of $470,000 today and the operating costs are expected to be $215,000 at the end of year 1, $145,000 at the end of year 2, $110,000 at the end of year 3, and $180,000 at the end of year 4. If the companys weighted average cost of capital is 9.3% per year, what is the projects equivalent annual annuity?

Question 2 options:

1)

$317,216

2)

$307,431

3)

$310,221

4)

$315,226

5)

$312,277