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Profitability Index A project has an initial cost of $ 6 0 , 0 0 0 , expected net cash inflows of $ 1 3

Profitability Index
A project has an initial cost of $60,000, expected net cash inflows of $13,000 per year for 11 years, and a cost of capital of 14%. What is the project's PI?(Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places.
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