A project is expected to provide cash flows of $12,600, $12,900, $16,000, and $10,500 over the next four years, respectively. At a required return of 8.8 percent, the project has a profitability index of .865. For this to be true, what is the project's cost at Time 0?
Please refer to below spreadsheet for calculation and answer. Cell reference also provided.
Cell reference -
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