Question: Is 38.59 the correct answer? Initial Outlay $50 million Year 1 Year 2 Year 3 Year 4 Year 5 $10 million $20 million $20 million

Is 38.59 the correct answer? Is 38.59 the correct answer? Initial Outlay $50 million Year 1

Initial Outlay $50 million Year 1 Year 2 Year 3 Year 4 Year 5 $10 million $20 million $20 million $10 million $5 million The required rate of return is 15%. If the firm wants to make the profitability index equal to 1 for Project Alpha, the initial outlay has to be: Round to the nearest hundredth million without a dollar sign. (i.e. if your answer is $12.34 million, then type 12.34 as your answer)

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