Suppose the following two independent investment opportunities are available to Greene, Inc. The appropriate discount rate is 11 percent.

Year Project Alpha Project Beta

0) $ 4,100 $ 5,700

1) 2,100 1,250

2) 2,000 4,100

3) 1,350 3,800

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

Profitability Index

Project Alpha

Project Beta

Which project(s) should the company accept based on the profitability index rule?

Project Beta

Neither project

Project Alpha

Both projects