The Michner Corporation is trying to choose between the following two mutually exclusive design projects: Year Cash Flow (1) Cash Flow (1) 0 -$ -$ 62,000 18,200 1 33,000 9,800 2 33,000 9,800 3 33,000 9,800 a-1.1f the required return is 12 percent, what is the profitability index for both projects? (Do not round intermediate calculations and round your answers to 3 decimal places, e.g., 32.161.) es Project 1 Project 1 a. If the company applies the profitability index decision rule, which project should the 2. firm accept? O Project 1 Project 11 a. If the company applies the profitability index decision rule, which project should the 2. firm accept? O Project 1 O Project | b- What is the NPV for both projects? (A negative answer should be indicated by a 1. minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) es Project 1 Project 11 b- 2. If the company applies the NPV decision rule, which project should it take? Project 1 Project 11