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b 8. Problem 10-04 (Profitability Index) eBook Profitability Index A project has an initial cost of $70,000, expected net cash inflows of $15,000 per year

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8. Problem 10-04 (Profitability Index) eBook Profitability Index A project has an initial cost of $70,000, expected net cash inflows of $15,000 per year for 12 years, and a cost of capital of 10%. What is the project's Pl? (Mints tegin by constructing a timeline.) Do not round intermediate calculations. Round your answer to two decimal places

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