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Consider a project with an initial investment ( today , t = 0 ) of $ 2 2 5 , 0 0 0 . This

Consider a project with an initial investment (today, t =0) of $225,000. This project will generate cash flows of $68,750 per year for the next 5 years. What is the Profitability Index (PI) of the project if shareholders demand 5.00% return? Answer in whole numbers, rounded to three decimal places.
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