XYZ Corporation is considering two mutually exclusive investment projects:

• Project A requires an initial investment of $200,000 and generates cash flows of $50,000 per year for 5 years.
• Project B requires an initial investment of $300,000 and generates cash flows of $80,000 per year for 7 years.

Using a discount rate of 8%, calculate the net present value (NPV) and profitability index (PI) for each project. Which project should XYZ Corporation choose?