Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Minings cost...
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Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Minings cost of capital is 8.59 percent. What is the PI of a project if the initial costs are $2,357,831 and the project life is estimated as 10 years? The project will produce the same after-tax cash inflows of $688,399 per year at the end of the year.
Round the answer to two decimal places.
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