A firm is reviewing a project that has an initial cost of $67,000. The project will produce annual cash inflows, starting with Year 1, of $8,000, $13,400, $18,600, $24,100, and finally in Year 5, $37,900. What is the profitability index if the discount rate is 11 percent?

Select one:

a. 1.05

b. 1.09

c. 0.92

d. 1.02

e. 0.98