Consider the following projects: Cash Flows (S) Co 11,800 -21,800 Project 23,600 38,150 Assume that the projects are mutually exclusive and that the opportunity cost of capital is 9% a. Calculate the profitability index for each project. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Project 3 Profitability Index b-1. Calculate the profitability-index using the incremental cash flows. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Profitability-index b-2. Which project should you choose? O Project D Project E