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A project has an initial cost of $94,000, a life of 9 years, and equal annual cash inflows. The required return is 9.6 percent. According

A project has an initial cost of $94,000, a life of 9 years, and equal annual cash inflows. The required return is 9.6 percent. According to the profitability index decision rule, what is the minimum annual cash flow necessary to accept the project?

Multiple Choice $18,984.25 $17,523.92 $14,827.94 $16,063.60 $10,444.44

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