I can't understand what I'm doing wrong. Can someone help explain each step please?

Present Value Index When funds for capital investments are limited, projects can be ranked using a present value index. A project with a negative net present value will have a present value index below 1.0 . Also, it is important to note that a project with the largest. net present value may, in fact, return a lower present value per dollar invested. Let's look at an example of how to determine the present value index. The company has a project with a 5 -year life, an initial investment of $220,000, and is expected to yield annual cash flows of $59,000. Whathat is the present value index of the project if the required rate of return is set at 6%