Consider the following cash flows: Year 0 = ($42,000) negative number Year 1 = $16,000 Year 2 = $18,000 Year 3 = $22,000 1. Calculate the profitability index assuming a discount rate of 12%. 2. Calculate the NPV. 3. Calculate the payback period. Round your answers to two decimal points.

Consider the following cash flows: Year0=($42,000)negativenumberYear1=$16,000Year2=$18,000Year3=$22,000 1. Calculate the profitability index assuming a discount rate of 12%. 2. Calculate the NPV. 3. Calculate the payback period. Round your answers to two decimal points