Jack plans to open a self-serve grooming center in a storefront. The grooming equipment will cost $265,000, to be paid immediately. Jack expects after-tax cash inflows of $59,000 annually for seven years, after which he plans to scrap the equipment and retire to the beaches of Seychelles. The first cash inflow occurs at the end of the first year. Assume the required return is 14 percent. What is the projects PI? Should it be accepted?