10. A project is expected to generate cash flows as follow: Year 0: -$65,000, Year 1: $24,000, Year 2: $29,000, Year 3: $36,000. What is the Profitability Index (PI) of the project, if the required rate of return is 11%? (with clear explanations)

A. 0.81

B. 0.95

C. 1.10

D. 1.32

E. 1.50