A project requires an initial investment of $70,000. The project is expected to produce $12,000 profit in the first five years and $9,000 profit in the following five years (i.e., years 6-10). What are the net present value (NPV) and the profitability index (PI) of this project assuming a discount rate of 7.7%? NPV = $3,290 and PL = 1.0470 NPV = $4,514 and PI = 1.0645 NPV = $3,290 and PI = 1.0832 NPV = $4,514 and PI = 1.0951 None of the above