1. Calculate the profitability index.Is the project deemed acceptable?

\begin{tabular}{|lrrr|} \hline \multicolumn{5}{|c|}{ Net cash flows } & PV factor a15% & PV of net cash flows \\ \hline Years & (390,000.00) & 1.00000 & (390,000.00) \\ \hline 1 & 60,000.00 & 0.86957 & 52,173.91 \\ \hline 2 & 120,000.00 & 0.75614 & 90,737.24 \\ \hline 3 & 100,000.00 & 0.65752 & 65,751.62 \\ \hline 4 & 80,000.00 & 0.57175 & 45,740.26 \\ \hline 5 & 85,000.00 & 0.49718 & 42,260.02 \\ \hline 6 & 65,000.00 & 0.43233 & 28,101.29 \\ \hline 7 & 80,000.00 & 0.37594 & 30,074.96 \\ \hline 8 & 60,000.00 & 0.32690 & 19,614.11 \\ \hline 9 & 65,000.00 & 0.28426 & 18,477.06 \\ \hline 10 & 60,000.00 & 0.24718 & 14,831.08 \\ \hline & & 17,761.56 \\ \hline \end{tabular}