Question: Question 2 (1 point) Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 9.72 percent. What

Question 2(1 point)

Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 9.72 percent. What is the PI of a project if the initial costs are $2,140,994 and the project life is estimated as 5 years? The project will produce the same after-tax cash inflows of $460,392 per year at the end of the year.

Round the answer to two decimal places.

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