I just need the formula for PI. The answer should be 12.93%. Just need the calculation.

fx =PV(E7, C4,-E8,0)-E6 A B D F G H 1 K L 1 h Comparing NPV, profitability Index Pl, and payback 2 3 A capital project has an initial cost of $ 21,000.00 and generates cash flows o $ 5,700.00 per year for 7 years. If the cost of capital is 15.0% , what is the NPV, the profitability Index, and the payback period? 4 5 6 7 Initial investment= $ 21,000.00 Cost of capital 15.0% Annual cash flows= $ 5,700.00 8 9 10 NPV= $2,714.39 11 12 PI= 13 14 Payback period 3.68 years 15 16