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8. Problem 10-04 (Profitability Index) eBook Profitability Index A project has an initial cost of $55,000, expected net cash inflows of $14,000 per year for

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8. Problem 10-04 (Profitability Index) eBook Profitability Index A project has an initial cost of $55,000, expected net cash inflows of $14,000 per year for 8 years, and a cost of capital of 8%. 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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