Free Spirit Industries Inc. is considering investing $2,750,000 in a project that is expected to generate the following net cash flows: Year Year 1 Year 2 Cash Flow $325,000 $450,000 $400,000 $475,000 Year 3 Year 4 Free Spirit Industries Inc. uses a WACC of 9% when evaluating proposed capital budgeting projects. Based on these cash flows, determine this project's PI (rounded to four decimal places): 0.5289 0.4568 0.4808 0.5529 Free Spirit Industries Inc.'s decision to accept or reject this project is independent of its decisions on other projects. Based on the project's PI, the firm should the project. By comparison, the NPV of this project is in the project because the project . On the basis of this evaluation criterion, Free Spirit Industries Inc. should increase the firm's value. A project with a negative NPV will have a PI that is ; when it has a PI of 1.0, it will have an NPV