Yokam Company is considering two alternative projects. Project 1 requires an initial investment of $470,000 and has a present value o cash flows of $2,350,000,0. Project 2 requires an initial investment of $4,000,000 and has a present value of cash flows of $7,000,000 1. Compute the profitability index for each project. 2 Based on the profitability index, which project should the company prefer? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the profitability index for each project. Profitability Index Choose Denominator: Choose Numerator: Profitability Index Profitability Index Project 1 Project 2 Required 2 > arch Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the profitability index, which project should the company prefer? Based on the profitability index, which project should the company prefer?