A local municipality is considering investing $220,000 to upgrade a park. Based on similar investments made by similar cities, it is anticipated the investment will result in annual costs and annual benefits over a 7-year period as shown in the cash flow profile given below in thousands of dollars. Notice, an intermediate investment of $140,000 is anticipated in the 6th year of the investment. Based on a MARR of 5%, calculate the benefit-cost ratio of the investment.

(Round answer to two decimal places.)

	(All values in thousand dollars)
End-of Year	Costs		Benefits		Net Cash Flow
0	$220				-$220
1	$70		$120		$50
2	$70		$130		$60
3	$70		$140		$70
4	$70		$150		$80
5	$70		$160		$90
6	$210		$170		-$40
7	$70		$160		$90