A project with an initial investment of $433,700 will generate equal annual cash flows over its 9-year life. The project has a required return of 7.6 percent. What is the minimum annual cash flow required to accept the project?
a) $74,328.50
b) $65,438.88
c) $78,029.88
d) $68,276.15
e) $63,257.58
