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Project P has a $960,000 cost and annual cashflows of $275,000 expected over a 7-year life. Project Q has a $775,000 cost and annual cashflows

Project P has a $960,000 cost and annual cashflows of $275,000 expected over a 7-year life. Project Q has a $775,000 cost and annual cashflows of $330,000 expected over a 4-year life. The firm's cost of capital is 7.5%

A. What is the equivalent annual annuity for Project P?

B. What is the equivalent annual annuity for Project Q?

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