6 1 pts You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of 10 percent. Formula: Profitability Index - PV of Future Cash Flows / Initial Investment Project X (Videotapes of the Weather Report) ($32,000 Investment) Cash Flow Project Y (Slow-Motion Replays of Commercials) ($52,000 Investment) Year Year Cash Flow 1 $ 16,000 1 $ 26,000 23 14,000 2 19,000 15,000 3 20,000 4 14,600 4 22,000 1. Calculate the profitability index for project X. 2. Calculate the profitability index for project Y. Note: Do not round intermediate calculations and round your answer to 2 decimal places