Question 27 Exhibit 9-2 The following data are projected for a possible investment project: 3.34 pts 1 2 Revenues $130,000 $150,000 3 $170,000 4 $190,000 Cost of Goods Sold $ 32,000 $ 38,000 $ 44,000 $ 50,000 Depreciation $ 90,000 $ 70,000 $ 50,000 $ 30,000 EBIT $ 8,000 $ 42,000 $ 76,000 $110,000 Refer to Exhibit 9-2. The project requires an initial investment of $330,000. Working capital is anticipated to be variable at 15% of revenues; the working capital investment must be made at the beginning of each period, and will be recaptured in full at the end of year 4. The tax rate is 36%. What is the initial cash outlay? $257,500 $337,500 $349,500 $269,500