A project with a profitability index of $0\mathrm{.}965$ is expected to provide cash flows of $+$$$60\mathrm{.}85,+$$$69\mathrm{.}87,-$$$18\mathrm{.}83,-$$$29\mathrm{.}20,$ and $+$$$85\mathrm{.}05$ over the next five years, respectively. If the required return is $5\mathrm{.}35\%,$ what is the project's Initial cost? Round your final answer to the nearest penny, and leave out the $"$$$"$ sign.

Answer rating: 100% (QA)

To find the projects initial cost we can use the profitability index PI formula and solve for the in... View the full answer