Question: This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems. Gold

This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems.

Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Minings cost of capital is 5.66 percent. What is the PI of a project if the initial costs are $2,291,471 and the project life is estimated as 9 years? The project will produce the same after-tax cash inflows of $379,222 per year at the end of the year.

Round the answer to two decimal places.

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