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A company is considering a project with the following cash flows: Initial cash outflow: $62,000...

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Accounting

A company is considering a project with the following cash flows:

Initial cash outflow: $62,000

Annual cash flows, years 1-5: $37,000 per year

Salvage value, year 5: $17,000

The company's discount rate is 11%. What is the profitability index for this project?

(Use the present value tables in your course packet for any present value calculations. Round your final answer to two decimal places.)

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