GoEco Incorporated is considering a replacement project. The initial cash outflow (ICO) is $8,000. The firm's hurdle rate is 12 percent. The after-tax cash flows associated with this project are:

Year Project CFs

1 $3,000 2 1,500 3 2,500 4 3,000

Which of the following is the closest profitability project?

between and including 0.50 to 1.00

less than 0.5

greater than 1.50

between and including 1.01 to 1.50