MPM Corp is facing capital rationing and want to invest in a new project with an estimated life of five years and an initial investment of $$10,000.$ Weighted average cost of capital is assumed at $7\%.$ Calculate the Profitability Index and give your decision to accept or reject with justification.

$\backslash$table$[[0,1,2,3],[5,,,],[-10,000,3\mathrm{.}500,3,500,3,500],[1,200,1,200,,]]$