Based on the profitability index (PI) rule, should a project with the following cash flows be accepted if the discount rate is 8 %? Why or why not? 
Definitions:
Maximum Daily Production
The highest quantity of goods or services a company can produce in a single day under normal operating conditions.
Managerial Accounting
The phase of accounting concerned with providing information to managers for use within the organization.
Historical Perspective
An approach to understanding and analyzing events or subjects based on their development over time.
Just-In-Time (JIT) System
A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs through the timely creation or acquisition of materials.
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