Suppose a company has proposed a new 5-year project. The project has an initial outlay of $183,000 and has expected cash flows of $40,000 in year 1, $49,000 in year 2, $57,000 in year 3, $68,000 in year 4, and $72,000 in year 5. The required rate of return is 16% for projects at this company. What is the profitability index for this project? (Answer to the nearest hundredth, e.g. 1.23)