Cardinal Company is considering a project that would require a $2,812,000 investment in equipment with a useful life of five years. At the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. The company's disunt rate is 16%. The project would provide net operating income each year as follows: Click here to view Exhibit 10-1 and Exhibit 10-2. to determine the appropriate discount factor(s) using tables. Required: What is the project profitability index for this project? (Round discount foctor(s) to 3 decimal places and final answer to 2 decimal places.)