Purple Whale Foodstuffs Inc. is considering investing $550,000 in a project that is expected to generate the following net cash flows: Purple Whale uses a WACC of 8% when evaluating proposed capital budgeting projects. Based on these cash flows, determine this project's (rounded to four decimal places). 2.74172.61112.87222.3500 Purple Whale'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 net present value (NPV) of this project is . On the basis of this evaluation criterion, Purple Whale should in the project because the project increase the firm's value. When a project has a PI greater than 1.00, it will exhibit an NPV ; when it has a PI of 1.00, it will have an NPV equal to $0. Projects with PIs 1.00 will exhibit negative NPVs