A project proposal is on your desk. The project has an upfront cost of $44,000. The annual cash inflows from the project over four years are, $17,000 for year 1, $18,000 for year 2, $19,000 for year 3, and $21,000 for year 4. If the weighted average cost of capital is 15%, what is the profitability index for the project?

Select one:

a.

1.20

b.

1.24

c.

1.12

d.

1.16

e.

1.28