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Good Morning Food, Inc. is using the profitability index (PI) when evaluating projects. You have to find the PI for the company’s project, assuming the company’s cost of capital is 11.85 percent.

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Good Morning Food, Inc. is using the profitability index (PI) when

evaluating projects. You have to find the PI for the company’s project, assuming the company’s cost of capital is 11.85 percent. The initial outlay for the project is $416,742. The project will produce the following end-of-the-year after-tax cash inflows of
Year 1: $190,247
Year 2: $114,829
Year 3: $112,554
Year 4: $204,908

Round the answer to two decimal places.

 
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