A project has an initial cost of $15,000 and a 4-year life. The cash inflows are: year 1 = $5,000, year 2 = $7,200, year 3 = $2,800, and year 4 = $1,900. What is the value of the PI if the required return is 14 percent? Question 1 options: i) 0.82 ii) 1.03 iii) 0.97 iv) 0.86