Problem 12-25 You are asked to evaluate the following two projects for Boring Corporation. Use a discount rate of 13 percent. Use Appendix B. Project X (DVDS of the Weather Reports) ($44,000 Investment) Year Cash Flow 1 $22,000 2 20,000 3 21,000 4 20,600 Project Y (Slow-Motion Replays of Commercials) ($64,000 Investment) Year Cash Flow 1 $32,000 2 25,000 3 26,000 4 28,000 a. Calculate the profitability index for project X. (Round "PV Factor" to 3 decimal places. Round the final answer to 2 decimal places.) PI b. Calculate the profitability index for project Y. (Round "PV Factor" to 3 decimal places. Round the final answer to 2 decimal places.) PI c. Using the NPV method combined with the Pl approach, which project would you select? Use a discount rate of 13 percent. Project Y Project X