Cisco, Inc., has a proposal from the Engineering Planning Division to invest Cisco retainedearnings in the design, testing, and development of the next generation of smart grids usefulin the Internet of Things (IoT) environment. The initial investment projection is $4,400,000in year 0, $2,700,000 in year 9, and $143,407 in years 11 and beyond. At i = 14% peryear, calculate the infinite-life equivalent annual cost in years 0 through infinity of theproposal.

The infinite-life equivalent annual cost isdetermined to be$ .