What is the profitability index for an investment with the following cash flows given a 14.5 percent required return? The cash flows, in order, are -$46,500 (initial cost), $12,200 (year 1 CF), $38,400 (year 2 CF), $11,300 (year 3 CF).

A)

-0.06

B)

-0.02

C)

0.02

D)

0.06

E)

0.11