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A project has an initial outlay of $2,386. It has a single payoff at the end of year 2 of $8,470. What is the profitability

A project has an initial outlay of $2,386. It has a single payoff at the end of year 2 of $8,470. What is the profitability index (PI) of the project, if the company's cost of capital is 12.24 percent? Round the answer to two decimal places? Round the answer to two decimal places.

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