Question $8(1$ point$)$

A project with an initial cost of $$3100$ is expected to provide annual cash flows of $$1700$ over the $3-$year life of the project. If the required return is $9\mathrm{.}0$ percent, what is the project's profitability index? Leave as a number and round to two places past the decimal point. Ex: $1\mathrm{.}20$

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