A project has an initial cost of $175,000 and annual cost of $17,500. The income from the project is $18,000 in the first year, increasing by $3500 each year. If interest is 4% and the project has a 12-year lifetime, the B/C ratio is: A. 1.45 B. 3.1 C. 0.99 D. 1.92 E. 0.88