Woods Industries is a manufacturer of computer related equipment. Woods Industries is considering two alternative projects. Project 1 for Woods Industries is an investment that requires an initial investment of $550,000 and has a present value of cash flows of $2,200,000. Project 2 for Woods Industries is an investment that requires an initial investment of $4 million and has a present value of cash flows of $6 million 1. For Woods Industries, please calculate the profitability index for each project. Profitability Index Choose Denominator: Choose Numerator: Profitability Index Profitability index Project 1 Project 2 to search 1 8