Exhibit 9-2 The following data are projected for a possible investment project: 1 4 Revenues Cost of Goods Sold $140,000 $ 36,000 $ 70,000 $_34.000 2 $160,000 $ 42,000 $ 50.000 $ 68,000 3 $180,000 $ 48,000 $ 30.000 $ 102.000 $200,000 $ 54,000 $ 10,000 $136.000 Depreciation EBIT Refer to Exhibit 9-2. The project requires an initial Investment of $350,000. Working capital is anticipated to be variable at 12% of revenues; the working capital investment must be made at the beginning of each period, and will be recaptured in full at the end of year 4. The tax rate is 34%. What is the initial cash outlay? O $354,800 $274,800 $286,800 $366,800