Problem 9-16 Problems with Profitabllity Index [LO1, 7] The Michner Corporation is trying to choose between the following two mutually exclusive design projects: a-1.If the required return is 12 percent, what is the profitability index for both projects? (Do not round intermedlate calculations and round your answers to 3 decimal places, e.g. 32161.) a- If the company applies the profitability Index decision rule, which project should the 2 firm accept? Project 1 Project II b- What is the NPV for both projects? (A negative answer should be indicated by a 1. minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 3216.)