Vince plans to open a self-serve grooming center in a storefront. The grooming equipment will cost $425,000, to be pald Immediately. Vince expects aftertax cash Inflows of $92,000 annually for eight years, after which he plans to scrap the equipment and retire to the beaches of Nevis. The first cash inflow occurs at the end of the first year. Assume the required return is 12 percent. What is the project's PI? (Do not round Intermedlate calculations. Round your answer to 3 decimal places, e.g., 32.161.)