A company is considering a five-year project that would require a $2,800,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 14%. The project would provide net operating income in each of five years as follows: Sales Variable expenses $ 2,845,000 1,109,000 1,736,000 Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 799,000 Depreciation 560,000 Total fixed expenses 1,359,000 Net operating income $ 377,000 2. What is the profitability index for this project? (Round your answer to 2 decimal places.) Profitability index