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4. Problem 12-04 (Profitability Index) EB eBook Profitability Index A project has an initial cost of $68,625, expected net cash inflows of $12,000 per year

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4. Problem 12-04 (Profitability Index) EB eBook Profitability Index A project has an initial cost of $68,625, expected net cash inflows of $12,000 per year for 10 years, and a cost of capital of 13%. What is the project's PI? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places

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