3. A frm needs to estimate the Equivalent Anal Annuity of two projects, since these projects can be repeated indefinitely Project requires an initial investment of $32,000 today and is expected to generate anual cash fond of $10,000 for the next 25 years. Project requires an initial investment of $150,000 and is expected to generate monthly cash flow of $2.500 for the next 13 years. The cost of capital is 7%. The _ _has the highest EAA, which is Project 511,439 Project x 5.254 Project $11.499 Project $12.469 Project 57,617