7,A project with an initial cost of $30,800 is expected to provide cash flows of $11,100, $11,900, $15,000, and $9,500 over the next four years, respectively. If the required return is 9.3 percent, what is the project's profitability index?

8,A project with an initial investment of $444,500 will generate equal annual cash flows over its 10-year life. The project has a required return of 8.5 percent. What is the minimum annual cash flow required to accept the project?