A critical software development project is currently in its execution phase and has achieved several key milestones. During the monthly performance review, the project manager conducts earned value analysis and determines that the project has completed 60% of all planned work activities based on the approved work breakdown structure. Financial analysis reveals that the team has expended 55% of the total approved project budget. The current baseline budget (Budget at Completion) is established at $180,000 with no approved changes. The project sponsor has requested a performance briefing and specifically asks for the project's Cost Performance Index to assess cost efficiency. What CPI value should the project manager report to the sponsor?