Compute the PI statistic for Project Z if the appropriate cost of capital is 8 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Project Z
Time:	0	1	2	3	4	5
Cash flow	$-1,000	$350	$480	$650	$300	$100

PI

%

Should the project be accepted or rejected?

	Rejected
	Accepted

rev: 05_22_2015_QC_CS-16219