CRL Ltd. is a successful pharmaceutical company. It plans to expand into manufacturing vaccines. The equipment required for the project costs $1,243,000 to purchase plus an additional $78,000 a year to operate. The equipment has a five-year life. What is the equivalent annual cost of the equipment if the required return is 16.5 percent and the equipment is worthless after 5 years? Multiple Choice -$462,061.04 -$427,109.10 -$335.803.37 -$395,666.67