A project is expected to provide cash flows of $11,700, $12,300, $15,400, and $9,900 over the next four years, respectively. At a required return of 8.2 percent, the project has a profitability index of .931. For this to be true, what is the project's cost at Time 0?

Multiple Choice

$40,074

$43,717

$37,892

$32,208

Insufficient information.