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Consider the following two independent investment opportunities that are available to Lion, Inc. The appropriate discount rate is 11.7%. Year Project X Project Y 0

Consider the following two independent investment opportunities that are available to Lion, Inc. The appropriate discount rate is 11.7%.

Year

Project X

Project Y

0

$-1,204

$-2,118

1

586

985

2

938

2,126

3

871

1,358

What is the Profitability Index of project X?

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