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You are asked to evaluate the following two projects for Boring Corporation. Use a discount rate of 10 percent. Use Appendix B. Project X (DVDS Project Y (Slow-Motion of the Weather Reports) Replays of Commercials) ($32,000 Investment) ($52,000 Investment ) Year Cash Flow Year Cash Flow OWNP $16,000 $26,000 14,000 19,000 15,000 20,000 14, 600 22,000 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 PI approach, which project would you select? Use a discount rate of 10 percent. O Project Y O Project X