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An initial investment of $ 1 7 0 0 in a project yields an annual payment of $ 1 1 0 0 forever at a

An initial investment of $1700 in a project yields an annual payment of $1100 forever at a growth rate of 3.0%. The interest rate is 16.9%. Determine the profitability index of this project. Round your result to 2 decimal places, if applicable, and express your result as a number, NOTapercentage.

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