Please do not use excel. show actual workings on paper

Gayle, Henry and Wright Ltd has to decide between two competing projects being offered by Codling and Small The cashflows and the discount rates for the projects te shown below Year Codling Small 0 $4,000,000 $5,000,000 1 $1.000.000 $1,200.000 2 $1,000,000 SI 200.000 3 $1,000,000 $1.200.000 1 $1,000,000 $1,200,000 S1.000.000 S1200000 Duscount Rate 994 (a) Use the Profitability Index method to determine which project should be choum (6 maka) (b) State reasons for your answer in (a) above il mark