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Good Morning Food, Inc. is using the profitability index (PI) when evaluating projects. You have to...

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 5.05 percent. The initial outlay for the project is $393,543. The project will produce the following end-of-the-year after-tax cash inflows of Year 1: $146,359 Year 2: $112,569 Year 3: $151,495 Year 4: $143,366 Round the answer to two decimal places.

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