Determine the five-year equivalent annual annuity of the following project if the appropriate discount rate is 16%
Initial outflow $150,000
Cash flow year 1= $40,000
Cash floe year 2=$90,000
Cash flow year 3=$60,000
Cash flow year 4=$0
Cash flow year 5=$80,000
A. $9872
B. $8520
C. $7058
D. $9454