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The black horse is currently considering a a project that will produce cash flows at 12,000 dollars a year for three years followed by 6,500

The black horse is currently considering a a project that will produce cash flows at 12,000 dollars a year for three years followed by 6,500 in year 4. The cost of the project is 38,000. What is the profability index if the discount rate is 7 percent.

A. 0.96

B0.99

C. 1.04

D. 1.09

E. 1.12

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