Suppose a company has proposed a new 5-year project. The project has an initial outlay of $205,000 and has expected cash flows of $39,000 in year 1, $44,000 in year 2, $50,000 in year 3, $63,000 in year 4, and $78,000 in year 5. The required rate of return is 13% for projects at this company. What is the profitability index for this project? (Answer to the nearest hundredth, e.g. 1.23)