Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 10.14 percent. What is the PI of a project if the initial costs are $1,759,048 and...

Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 10.14 percent. What is the PI of a project if the initial costs are $1,759,048 and the project life is estimated as 7 years? The project will produce the same after-tax cash inflows of $391,410 per year at the end of the year.