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A project has an initial outlay of $1,406. The project will generate cash flows of $429 in Years 1-4. What is the profitability index (PI)

A project has an initial outlay of $1,406. The project will generate cash flows of $429 in Years 1-4. What is the profitability index (PI) of this project? Assume an interest rate of 16%. Note: Enter your answer rounded off to two decimal points.

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