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A project has an initial cost of $63,775, expected net cash inflows of $11,000 per year for 10 years, and a cost of capital of

A project has an initial cost of $63,775, expected net cash inflows of $11,000 per year for 10 years, and a cost of capital of 11%. What is the project's PI? Do not round your intermediate calculations. Round your answer to two decimal places.

An explanation in Excel would be helpful.

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