Project a requires an initial investment of 9000 at t 0, Ask an Expert

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Project A requires an initial investment of $9,000 at t = 0. Project A is expected to earn annual after-tax cash inflows of $2,500 at the end of each year for five years. The project has a required return of 5%. What is the equivalent annual annuity? Enter your answer rounded off to two decimal points.

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