You are considering two mutually exclusive projects with unequal lives. One of the projects has an up$-$front cost of $$60,000($CF$0=-60,000)$ and produces positive after$-$tax cash inflows of $$24,000$ a year at the end of each of the next $6$ years. Assuming the cost of capital is $12\%,$ what is the equivalent annual annuity of the project?

Question $19$ options:

$$7,726$

$$8,386$

$$9,406$

$$10,456$

$$11,416$

$$12,046$