Required information The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $3,025,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows Sales Variable expenses Contribution margin Fixed ex $ 2,737,000 1,001,000 1,736,000 penses: Advertising, salaries, and other fixed out-of-pocket costs $ 610,000 605,000 Depreciation Total fixed ex 1,215,000 $ 521,000 penses Net operating income Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using table. 5. What is the project profitability index for this project? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Project profitability index 1.22