Problem
An engineering design firm is bidding on a design build contract that will last 2 years. New computer equipment costing $25,000 per year will need to be leased. Annual salaries and overhead will total $450,000. Working capital will equal 1 month's salary and overhead. If i = 12%, what is the project's EAC? (Use annual periods.)
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.