Problem 12-25 You are asked to evaluate the following two projects for Boring Corporation. Use a discount rate of 12 percent. Use Appendix B Project X (OVD of the Weather Reports) ($50,000 Investment) Year Project Y (Slow Motion Replays of Commercials) ($70,000 Investment) Cash Flow 1 3 Cash Flow Year $25,000 1 $35,000 23,000 2 28,000 24,000 23,600 3 4 29,000 11,000 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.) Pl c. Using the NPV method combined with the Pl approach, which project would you select? Use a discount rate of 12 percent O Project Y O Project X Next >.