You are considering two mutually exclusive projects with unequal lives. One of the projects has an up$-$front cost of $$40,000($CF$0=-40,000)$ and produces positive after$-$tax cash inflows of $$24,000$ a year at the end of each of the next $5$ years. Assuming the cost of capital is $11\mathrm{.}5\%,$ what is the equivalent annual annuity of the project?

Question $19$ options:

$$10,281$

$$10,971$

$$11,601$

$$12,441$

$$13,041$

$$13,551$