A project has estimated annual net cash flows of $6,800 for five years and is estimated to cost $23,125. Assume a minimum acceptable rate of return of 12%. Using Exhibit 5, determine (1) the net...

A project has estimated annual net cash flows of $6,800 for five years and is estimated to cost $23,125. Assume a minimum acceptable rate of return of 12%. Using Exhibit 5, determine (1) the net present value of the project and (2) the present value index, rounded to two decimal places.