The liquid phase irreversible reactions, P &xrightarrow{k1}→Q and P &xrightarrow{k2}→R, are carried out in an ideal continuous stirred tank reactor (CSTR) operating isothermally at steady state. The space time of the CSTR is 1 minute. Both the reactions are first order with respect to the reactant P, and k₁ and k₂ denote the rate constants of the two reactions. At the exit of the reactor, the conversion of reactant P is 60%, and the selectivity of Q with respect to R is 50%. The value of the first order rate constant k₁ (in minute^-1) is _______ (correct up to one decimal place).