Project Boyaz is expected to generate $$24,000$ each year for the next four years. It will cost $$60,000$ to implement the project today. If the project$$s required rate of return is $12\%,$ what is its profitability index?

Can you break this problem down without using excel

$1\mathrm{.}21$

$1\mathrm{.}09$

$0\mathrm{.}96$

$0\mathrm{.}85$