Elliot and Son, Inc. is considering a capital budgeting project that costs $$141,141$ at initiation and is expected to generate $$60,605$ in year one, $$67,629$ in year two, $$51,901$ in year three, and $$43,145$ in year four.

The company use $11\%$ as the hurdle rate for its capital budgeting projects. What is the profitability index for this project?

Round your calculations to the nearest $0\mathrm{.}01,$ i$.$e$.,$ two decimal places.