Answer:
EAC $22,638
Explanation:
0 1 2 3 4 5
Cost (10,000)
Cashflows 20,000 20,000 20,000 20,000 20,000
PV factor 1/1.1 1/1.1^2 1/1.1^3 1/1.1^4 1/1.1^5
NPV=Cashflow*PV Factor 18,182 16,529 15,026 13,660 12,418
NPV=10,000+18,182+16529+15,026+13,660+12,418)=85,815
EAC=NPV*r/1-(1+r)^-n=85,815*.1/(1-(1+.1)^-5=$22,638