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29. A firm needs to estimate the equivalent Annual Annuity (EAA) of two projects, since...

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29. A firm needs to estimate the equivalent Annual Annuity (EAA) of two projects, since these projects can be repeated indefinitely. Project X requires an initial investment of $47,000 today and is expected to generate annual cash flows of $9,000 for the next 20 years. Project Y requires an initial investment of $180,000 and is expected to generate monthly cash flows of $2,600 for the next 13 years. The cost of capital is 9%. The has the highest EAA, which is Project Y: $7,827 Project Y: $4,121 Project Y: $8,062 Project X: $3,851 Project X: $7,827 Question 30 1 pts

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