Question: 9. Problem 12.17 (Equivalent Annual Annuity) A firm has two mutually exclusive investment projects to evaluate. The projects have the following cash flows: Projects X

9. Problem 12.17 (Equivalent Annual Annuity) A firm has two mutually exclusive investment projects to evaluate. The projects have the following cash flows: Projects X and Y are equally risky and may be repeated indefinitely. If the firm's WACC is 9%, what is the EAA of the project that adds the most value to the firm? Do not round intermediate calculations. Round your answer to the nearest dollar. Choose Project , whose EAA =5

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