Broxton Group, a consumer electronics conglomerate, is reviewing its annual budget in

wireless technology. It is considering investments in three different technologies to

develop wireless communication devices. Consider the following cash flows of the three

independent projects. Assume the discount rate is $11$ percent. Further, the company has

only $$23$ million to invest in new projects this year.

Cash Flows $($in $ millions$)$

a$.$ Calculate the profitability index for each investment. $($Do not round intermediate

calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ Calculate the NPV for each investment. $($Do not round intermediate calculations and

enter your answers in dollars, not millions of dollars, rounded to $2$ decimal places,

e$.$g$.,1,234,567\mathrm{.}89.)$