Hats \& Bats is trying to decide if a new project is worth investing money into. The project would require $319 as initial investment. In the next 4 years it would generate profits in the following amounts: $77 in year 1,$114 in year 2,$77 in year 3 , and $126 in year 4 . The typical rate of return for projects like this is 8 percent. Calculate the profitability index of this proposed project. Increase the decimal places for any intermediate calculations, and round your final answer to TWO decimal places, for example, 1.2