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Freddy's BBQ, a Washington D.C. area ribs joint which caters to high level politicians, is looking to open a new franchise in Philadelphia. They anticipate

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Freddy's BBQ, a Washington D.C. area ribs joint which caters to high level politicians, is looking to open a new franchise in Philadelphia. They anticipate that the new restaurant will cost $17.4 M to open today, but will produce cash flows of $7.3 M, $8.4 M, and $9.6 M over the next three years, respectively. What is the profitability index of this investment given a 7.52% required return

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