Hats & Bats is trying to decide if a new project is worth investing money into. The project would require $301 as initial investment. In the next 3 years it would generate profits in the following amounts: $105 in year 1, $93 in year 2, and $71 in year 3. The typical rate of return for projects like this is 9.0 percent. Calculate the profitability index of this proposed project?