You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of 10 percent. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. Project X (Videotapes of the Weather Report) ($24,000 Investment) Year Cash Flow 1 $12,000 2 10,000 3 11,000 10,600 Year Project Y (Slow-Motion Replays of Commercials) ($44,000 Investment) Cash Flow 1 $ 22,000 2 15,000 3 16,000 18,000 4 4 a. Calculate the profitability index for project X. (Do not round intermediate calculations and round your answer to 2 decimal places.) Profitability index b. Calculate the profitability index for project Y. (Do not round intermediate calculations and round your answer to 2 decimal places.) Profitability index