Bill plans to open a self-serve pet grooming centre in a storefront. The grooming equipment will cost $350,000, to be paid immediately. Bill expects after-tax cash inflows of $165,000 annually for six years, after which he plans to scrap the equipment and retire to the beaches of Nevis. The first cash inflow occurs at the end of the first year. Assume that the required return is 17 percent. a. What is the project's PI? (Do not round intermediate calculations. Round the answer to 3 decimal places.) Profitability index (PI) 1.40