Bill is considering opening a self-serve grooming center in a storefront. The grooming equipment will cost $245,921, to be paid immediately. Bill expects after-tax cash inflows of $85,077 annually for seven years, after which he plans to scrap the equipment and retire. The first cash inflow occurs at the end of the first year. Assume the required return is 13 percent. What is the project's profitability index (PI) ? Round your response to the nearest three decimal points. The owner of several gas stations is considering installing coffee machines in his gas stations. It will cost $500,000 to install the coffee machines, and they are expected to boost cash flows by $120,000 per year for their five-year working life. What must the cost of capital be if this investment has a profitability index of 0 ? Express your response in percent but without the percent sign. And round it to the nearest two decimal points