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?
- $7,899.16
- $8,098.24
- $8,166.19
- $9,211.06
- $9,250.00