Question: Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 5.94 percent. What is the Pl of

Gold Mining, Inc. is using the profitability index (PI) when evaluating

Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 5.94 percent. What is the Pl of a project if the initial costs are $1,772,185 and the project life is estimated as 5 years? The project will produce the same after-tax cash inflows of $380,645 per year at the end of the year. Round the answer to two decimal places

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