If a project has an Earned Value $($EV$)$ of $$500,$ an Actual Cost $($AC$)$ of $$450,$ and Planned Value $($PV$)$ of $$600,$ what is the Cost Performance Index $($CPI$)$ and what does it indicate?

A $.$ CP$|=1\mathrm{.}33,$ indicating the project is over budget

B$.$CP$|=0\mathrm{.}83,$ indicating the project is under budget

C $.$ CPI$=1\mathrm{.}11,$ indicating the project is under budeet

D$.$ CP$|=0\mathrm{.}75,$ indicating the project is over budget

E $.$CP$|=1\mathrm{.}25,$ indicating the project is under budget