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Hudson City Bancorp has a project with initial investment requiring $-110,000 and the following cash flows will be generated because of the project: $27,500; $59,000;

Hudson City Bancorp has a project with initial investment requiring $-110,000 and the following cash flows will be generated because of the project: $27,500; $59,000; $58,000; and $64,000 respectively at the end of each year for the next four years. If the required rate of return is 0.1, find the Profitability Index (PI) of the project.

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