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Hats \& Bats is trying to decide if a new project is worth investing money...

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Finance

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Hats \& Bats is trying to decide if a new project is worth investing money into. The project would require $276 as initial investment. In the next 3 years it would generate profits in the following amounts: $101 in year 1,$124 in year 2 , and $60 in year 3. The typical rate of return for projects like this is 6.7 percent. Calculate the profitability index of this proposed project. Increase the decimal places for any intermediate calculations, an final answer to TWO decimal places, for example, 1.23

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