Concord Co$.$ is considering purchasing equipment that has an initial investment of $$45000.$ The company's required rate of return is

$12\%.$ Annual cost savings are projected to be $$18000$ for year $1,$$$15000$ for year $2,$ and $$10000$ for year $3.$ What is the investment's

profitability index?

$0\mathrm{.}78.$

$1\mathrm{.}74.$

$1\mathrm{.}78.$

$1\mathrm{.}72.$