What is the profitability index for an investment with the f

What is the profitability index for an investment with the following cash flows given a 9% required return?
  

  

Year Cash Flow -$21,500 $ 7,400 $9,800 $ 8,900

Solution

PI = 1 + 409.89/21,500 = 1.02

Discount rate	9.0000%
Cash flows	Year	Discounted CF= cash flows/(1+rate)^year	Cumulative cash flow
(21,500.00)	0	(21,500.00)	(21,500.00)
7,400.000	1	6,788.99	(14,711.01)
9,800.000	2	8,248.46	(6,462.55)
8,900.000	3	6,872.43	409.89