Noble Tech is considering the following project. The estimated cost of the project in the current year is $981,000. The project is expected to generate cash flows in the amount of $215,000 in the first and second year, followed by $488,000 in year 3 through year 5 . No cash flow is expected after year 5 . The company uses a discount rate of 14% for similar projects. Calculate the profitability index of this project. (Round your answer to two decimal places)