You estimate that it will cost $33,700 today to start a project and the project will provide cash inflows of $14,800 in Year 1, $0 in Year 2, and $24,600 in Year 3. Based on the profitability index rule, should the project be accepted if the discount rate is 9.2 percent? Why or why not?

a. No; the PI is .96

b. Yes; the PI is .96

c. No; the PI is 1.06

d. Yes; the PI is .91

e. Yes; the PI is 1.06