Bill plans to open a do$-$it$-$yourself dog bathing center in a storefront. The bathing equipment will cost $$160,000.$ Bill expects the after$-$tax cash inflows to be $$45,000$ annually for seven years, after which he plans to scrap the equipment and retire to the beaches of Jamaica. Assume the required return is $15\%.$ What is the project's PI$?$ Should it be accepted?

Select one:

a$.$

$0\mathrm{.}88$; yes

b$.$

$1\mathrm{.}17$; yes

c$.$

$0\mathrm{.}88$; no

d$.$

$1\mathrm{.}00$; indifferent