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You are considering a project that has an initial cost of $1,200,000. If you take the...

You are considering a project that has an initial cost of $1,200,000. If you take the project, it will produce net cash flows of $350,000 per year for the next six years. If the appropriate discount rate for the project is 11 per cent, what is the profitability index of the project?

Select one:

A. 0.09

B. 1.09

C. 1.24

D. 2.18

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