Suppose the following two independent investment opportunities are available to Greenplain, Inc. The appropriate discount rate is 10 percent.

Year	Project Alpha	Project Beta
0	?$2,300	?$3,900
1	1,200	800
2	1,100	2,300
3	900	2,900

a.	Compute the profitability index for each of the two projects. (Do not round intermediate calculations. Round your answers to 3 decimal places. (e.g., 32.161))

	Profitability Index
Project Alpha
Project Beta

b.

Which project should Greenplain accept based on the profitability index rule?

	Project Beta
	Project Alpha