A project requires an investment of $470,000 today and is expected to generate free cash flows of $215,000 at the end of year 1, $145,000 at the end of year 2, $110,000 at the end of year 3, and $180,000 at the end of year 4. If the company’s weighted average cost of capital is 9.3% per year. What is the project's equivalent annual annuity?
A) $18,159
B) $15,226
C) $20,431
D) $17,216
E) $12,277