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  3. consider the following two independent investment

Consider the following two independent investment opportunities that are available to Lion, Inc. The appropriate...

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Finance

Consider the following two independent investment opportunities that are available to Lion, Inc. The appropriate discount rate is 10.1%. Year Project X Project Y 0 $-1,252 $-2,169 1 576 930 2 952 2,107 3 852 1,319 What is the Profitability Index of project X? (Round answer to 2 decimal places. Do not round intermediate calculations)

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