Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Minings cost of capital is 8.64 percent. What is the PI of a project if the initial costs are $2,070,910 and the project life is estimated as 10 years? The project will produce the same after-tax cash inflows of $558,503 per year at the end of the year. Round the answer to two decimal places.