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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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