Cardinal Company is considering a five-year project that would require a $2,812,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows: Sales $ 2,855,000 Variable expenses 1,010,000 Contribution margin 1,845,000 Fixed expenses: Advertising, salaries, and other Fixed out-of-pocket costs $ 798,000 Depreciation 562,400 Total fixed expenses 1,360,400 Net operating income $ 484,600 Click here to view Exhibit 148-1 and Exhibit 148-2, to determine the appropriate discount factor(s) using table. i. What is the profitability index for this project? (Round your answer to 2 decimal places.)