Capital Budgeting Techniques for Investment Appraisal: A company is considering two mutually exclusive investment projects: Project X and Project Y. Project X requires an initial investment of $100,000 and has a net present value (NPV) of $20,000. Project Y requires an initial investment of $120,000 and has an NPV of $30,000. Calculate the profitability index for each project and discuss which project should be chosen based on this analysis.