Question: A project has an initial outlay of $4, 074. It has a single payoff at the end of year 2 of $8, 382. What is the profitability index (PI) of the project, if the company's cost of capital is 6.08 percent? Round the answer to two decimal places. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.