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Accounting

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Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project requiring a $2,810,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows: Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table. 5. What is the profitability index for this project? Note: Round your answer to 2 decimal places. EXRIBIT 148-1 Present Value of 51;(1+r)n1

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