Suppose the following two independent investment opportunities are available to Scott, Inc. The appropriate discount rate is 8 percent.

Year	Project Alpha	Project Beta
0	$5,500	$7,100
1	2,800	1,600
2	2,700	5,500
3	1,700	4,500

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

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

	Both projects
	Neither project
	Project Beta
	Project Alpha