Robben Manufacturing has the following two possible projects. The required return is 12 percent.

Year	Project Y			Project Z
0	$	27,600		$	56,000
1		13,600			19,000
2		12,000			27,000
3		14,400			17,000
4		10,000			25,000

a. What is the profitability index for each project? (Do not round intermediate calculations and round your answers to 3 decimal places, e.g., 32.161.)

	Profitability index
Project Y
Project Z

b. What is the NPV for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

	NPV
Project Y	$
Project Z	$

c. Which, if either, of the projects should the company accept?