Suppose a company has proposed a new 5-year project. The project has an initial outlay of $187,000 and has expected cash flows of $35,000 in year 1, $43,000 in year 2, $56,000 in year 3, $66,000 in year 4, and $80,000 in year 5. The required rate of return is 17% for projects at this company. What is the profitability index for this project? (Answer to the nearest hundredth, e.g. 1.23)