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Profitability Index A project has an initial cost of $ 5 0 , 0 0 0 , expected net cash inflows of $ 1 4

Profitability Index
A project has an initial cost of $50,000, expected net cash inflows of $14,000 per year for 9 years, and a cost of capital of 10%. 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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