Solve to the following question:
Steps on Calculating Uniform Annual Cost
An alternative has a discounted project cost of $12,345,000 with a discounted salvage value of $1,750,000. The estimate was in constant dollars and the discounting used end-of-year factors. While the period of analysis is 5 years, the alternative only provides benefits for the last 4 years. Calculate the uniform annual cost.
A) $2,896,471
B) $2,282,735
C) $2,891,003
D) $2,854,251