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