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URGENT DUE LESS THAN AN HOUR A security company offers to provide CCTV coverage for a parking garage for ten years for an initial payment

URGENT DUE LESS THAN AN HOUR

A security company offers to provide CCTV coverage for a parking garage for ten years for an initial payment of $40,000 and additional payments of $25,000 per year. What is the equivalent annual annuity of this deal, given a cost of capital of 8%?

A. $21,673

B. $18,577

C. $24,769

D. $30,961

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