The management of California Corporation is considering the purchase of a new machine costing $400,000. The company's desired rate of return is 10%. The present value factors for $1 at compound interest of 10% for 1 through 5 years are 0.909,0.826,0.751,0.683, and 0.621 , respectively. In addition to the foregoing information, use the following data in determining the acceptability of this investment: The present value index for this investment is Select one: a. 0.88 b. 1.45 c. 0.98 d. 0.70