Problem 7-17 Profitability Index versus NPV Broxton Group, a consumer electronics conglomerate, is reviewing its annual budget in wireless technology It is considering investments in three different technologies to develop wireless communication devices. Consider the following cash flows of the three independent projects, Assume the discount rate is 8 percent. Further. the company has only $24 million to invest in new projects this 12.5 points Cash Flows (in $ millions) 9.e -$15 $24 12.0 13 8.5 28 36 6,5 24 24 a. Calculate the profitability index for each investment. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) 14 GS Wi-Fi b. Calculate the NPV for each investment. (Enter your answers in dollars, not millions of dollars. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 1,234,567.89.) NPV L6 G5 Wi-Fi