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Skysong, Inc. is considering purchasing equipment costing $54000 with a 6-year useful life. The equipment will provide annual cost savings of $13600 and will be

Skysong, Inc. is considering purchasing equipment costing $54000 with a 6-year useful life. The equipment will provide annual cost savings of $13600 and will be depreciated straight-line over its useful life with no salvage value. Skysong requires a 10% rate of return. What is the approximate profitability index associated with this equipment

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