carlyle inc is considering two mutually exclusive project. both require an initial investment of 15,000 at t= 0. project s has an expected life 2 years with after tax inflows of 7,000 and 12,000 at the end of years 1 & 2, respectively. in addition, project s can be repeated at the end of year 2 with no changes in its cash flows.project l has an expected life of 4 years with after-tax cash flows of 5,200 at the end of each of the next 4 years. each project has a wacc of 9%. what is the equivalent annual annuity pf the most profitable project?