Question: (CHAPTER 9) Hat and broomHats & Bats is trying to decide if a new project is worth investing money into. The project would require $268

(CHAPTER 9)

Hat and broomHats & Bats is trying to decide if a new project is worth investing money into. The project would require $268 as initial investment. In the next 4 years it would generate profits in the amount of $61 at the end of each year. The typical rate of return for projects like this is 8.2 percent.

Calculate the profitability index of this proposed project.

Increase the decimal places for any intermediate calculations, and round your final answer to TWO decimal places, for example, 1.23

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