Teagyn corp. produces PITAs and has a choice of upgrading or replacing a piece of equipment. The upgrade would cost $$25$M and have an operating cost per unit of $$62,000.$ Replacing the equipment would cost $$39$M and would reduce operating costs per unit from the upgrade estimate by $10\%.$ Replacing would also allow the current machine to be sold for $$3$M now. Regardless of the choice, Teagyn forecasts sales of $460$ units at $$80,000$ per unit and expects unit sales to grow at $10\%$ per year over the next four years $($five years in total, selling price and costs would remain the same$).$ Use a WACC of $12\%$ to compare these choices.

What is the Profitability Index if Teagyn replaces the machine? Please enter your response with no units or commas and $2$ decimal places: $"1\mathrm{.}557"$ would be $"1\mathrm{.}56"($note: NO units and use $5/4$ rounding$).$