Gold Mining, Inc. is using the profitability index (PI) when evaluating projects. Gold Mining's cost of capital is 6.44 percent. What is the PI of a project if the initial costs. are $1,506,760 and the project life is estimated as 8 years? The project will produce the same after-tax cash inflows of $389,691 per year at the end of the year. Round the answer to two decimal places. Your