Finger Foods wants to upgrade their kitchen appliances at a cost of 269,000 . Their old appliances will be hauled off for scrap metal. The new appliances are expected to have a four year life and be sold for $12,000 at the end of their useful life. The appliances are more energy efficient and so are expected to lower costs by 49,000 each year as well as increase production and sales by 74,000 each year. Their working capital is not expected to change much. The required rate of return is 8%. What is the profitability index of this investment (rounded to two decimal places)