You are analyzing a project with cash flows indicated in the table below. If the discount rate is 6%, which one of the following answer choices is true?

Initial Cost	$70,000
End of Year 1	$22,000
End of Year 2	$22,000
End of Year 3	$22,000
End of Year 4	$22,000

Group of answer choices

profitability index is 0.0881

net present value is $6,228.23

internal rate of return is 9.76%

payback occurs in year 4

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