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Consider the following two independent investment opportunities that are available to Lion, Inc. The appropriate discount rate is 10.8%. Year Project X Project Y 0

Consider the following two independent investment opportunities that are available to Lion, Inc. The appropriate discount rate is 10.8%.

Year

Project X

Project Y

0

$-1,287

$-2,173

1

504

987

2

954

2,136

3

814

1,311

What is the Profitability Index of project X? (Round answer to 0 decimal places. Do not round intermediate calculations)

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