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Question 2(1 point) Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 10.41 percent. What is

Question 2(1 point)

Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 10.41 percent. What is the PI of a project if the initial costs are $1,611,955 and the project life is estimated as 6 years? The project will produce the same after-tax cash inflows of $601,470 per year at the end of the year.

Round the answer to two decimal places.

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