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A project has an initial outlay of $3,275. It has a single payoff at the end of year 9 of $7,053. What is the profitability

A project has an initial outlay of $3,275. It has a single payoff at the end of year 9 of $7,053. What is the profitability index (PI) of the project, if the companys cost of capital is 6.21 percent?

Round the answer to two decimal places.

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