You are asked to evaluate the following two projects for Boring Corporation. Use a discount rate of 15 percent. Use Appendix B.

Project X (DVDs of the Weather Reports)

($46,000 Investment)

Year	Cash Flow
1	23,000
2	21,000
3	22,000
4	21,000

Project Y (Slow-Motion Replays of Commercials)

($66,000 Investment)

Year	Cash Flow
1	33,000
2	26,000
3	27,000
4	29,000

a. Calculate the profitability index for project X. (Round "PV Factor" to 3 decimal places. Round the final answer to 2 decimal places.) PI

b. Calculate the profitability index for project Y. (Round "PV Factor" to 3 decimal places. Round the final answer to 2 decimal places.) PI

c. Using the NPV method combined with the PI approach, which project would you select? Use a discount rate of 15 percent. Project Y Project X