This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems.

Good Morning Food, Inc. is using the profitability index (PI) when evaluating projects. You have to find the PI for the companys project, assuming the companys cost of capital is 5.58 percent. The initial outlay for the project is $359,698. The project will produce the following end-of-the-year after-tax cash inflows of

Year 1: $142,838

Year 2: $95,930

Year 3: $499,736

Year 4: $446,692

Round the answer to two decimal places.