Consider a potential manufacturing project with the following cash flows:

Your firm's capital is constrained and it is trying to decide whether or not to pursue this project. If the relevant interest rate is 7.7%, the profitability index of this project is closest to _________________.

	a.	0.19
	b.	0.66
	c.	0.17
	d.	0.25

Cash Flow Year -$12,000 0 $4,500 1 $4,500 2 $4,500 3 $4,500 4