The Michner Corporation is trying to choose between the following two mutually exclusive design projects. If the required return is 10 percent, what is the profitabilty index for eaech project? What is the NPV for each project? Input area: Project 1 Project 11 Year 0 ($82,000) ($21,700) 3 Year 1 $37,600 $11,200 9 Year 2 $37,600 $11,200 10 Year 3 $37,600 $11,200 11 Required return 10% 12 13 (Use cells A6 to 11 from the given information to complete this question. You must use the built-in Excel funct 14 question.) 15 16 uttit i 13 (Use cells A6 to C11 from the given information to complete this question. You must 14 question.) 15 16 Output area: 17 18 Profitability index 19 Profitability index Il 20 NPVI 21 NPV II 22 23 24 25 Students: The scratchpad area is for you to do any additional work you need to solve thi 26 Nothing in this area will be graded, but it will be submitted with your assignment. 27 28 20