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22. My Corporation Inc. is trying to choose between the following two mutually exclusive projects: Year 0 1 2 3 Project 1 -$65,000 $34,000 $19,000

22. My Corporation Inc. is trying to choose between the following two mutually exclusive projects: Year 0 1 2 3 Project 1 -$65,000 $34,000 $19,000 $37,000 Project 2 -$24,000 $7,000 $12,600 $14,000 If the required return is 9 percent and the company applies the profitability index decision rule, which project should the firm accept?

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