Problem 3 Shilling Company is evaluating two different capital investments, Project X and Y. Either X or Y would cost $210,000, and the company cannot afford to do both. The company expects that Project X would provide net cash inflows of $62,000 per year for 5 years. For Project Y, the net cash inflows are expected to be as follows: Years Cash inflows from Project Y 1 $44,000 2 $48,000 3 $60,000 4 $76,000 5 $80,000 Total: 308,000 Shiling's cost of capital is 10% Required: 1) Calculate the present value index for Project X and for Project Y. Round your answer to three decimal places. Project X Project Y 2) Indicate whether each of the projects is an acceptable investment Project X Project Y 3) Based on present value index, which of the two projects should Shilling implement