Suppose a compary has proposed a new 4 year project. The project has an initial outlay of $20,000 and has expected cash flows of 56.000 in year 1. $9,000 in year 2.$11,000 in year 3 , and $13,000 in year 4 . The required rate of return is 15% for projects at this company, What is the profitability index for this projecie (Answer to the nearest handredth, e.5. 1.23)