Your firm is currently capital constrained, and your CFO wants to launch a new product. She projects that this will cost $$0\mathrm{.}7$ million up front and will generate $+$$$220,000$ per year forever.

The T$-$bill rate is $3\mathrm{.}9\%,$ your firm's stock beta is $1\mathrm{.}3,$ and you will use a market risk premium of $6\%.$

What is the project's profitability index $($PI$)?$