What is the equivalent annual annuity

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Suppose a project has initial outlay of $12,000 and after-tax cash flows of $2,000 each yearfor first three years and $4,000 each year for the following three years. If the required rate of return is 6.50%, what is the equivalent annual annuity?

Enter your answer rounded off to two decimal points.

Reference no: EM131360561

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