A Project Has Expected Cash Inflows,starting with Year 1,of $2,200,$2,900,$3,500,and

Multiple Choice

A project has expected cash inflows,starting with year 1,of $2,200,$2,900,$3,500,and finally in year 4,$4,000.The profitability index is 1.14 and the discount rate is 12 percent.What is the initial cost of the project?

A) $7,899.16
B) $8,098.24
C) $8,166.19
D) $9,211.06
E) $9,250.00