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Compute the PI statistic for Project Z and advise the firm whether to accept or reject the project with the cash flows shown below if

Compute the PI statistic for Project Z and advise the firm whether to accept or reject the project with the cash flows shown below if the appropriate cost of capital is 8 percent.

Time: 0 1 2 3 4 5

Cash flow -$1,000 $350 $480 $650 $300 $100

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