34. A company has a capital budget of $1,000,000 and is considering two mutually exclusive projects:
    • Project A has an initial investment of $600,000 and is expected to generate cash flows of $200,000 per year for 5 years.
    • Project B has an initial investment of $800,000 and is expected to generate cash flows of $250,000 per year for 4 years. Calculate the profitability index (PI) for each project and advise the company on which project to undertake.