The Title One Boxing Club is considering including a step machine in this year's capital budget. The cash outlay for the step machine is $2,100. The firm's cost of capital is 7%. After-tax cash flows, including depreciation, are as shown in the table below. Calculate the profitability index (PI) for this project. Round your answer to two decimal places.

End of Year Cash Flow ($)

Year 1 = 670

Year 2 = 670

Year 3 = 670

Year 4 = 670

Year 5 = 670