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Required information [The following information applies to the questions displayed below.) Cardinal Company is considering a five-year project that would require a $2,850,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: $2,857,000 1,011,000 1,846,000 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income $ 799,000 570,000 1,369,000 $ 477,000 Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table. This is a great review problem that reinforces the individual concepts covered using a comprehensive example. You will calculate the following: payback period (even flows), internal rate of return (IRR), net present value (NPV) and profitability index. 5. What is the profitability index for this project? (Round your answer to 2 decimal places.) Profitability index