You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of $12$ percent. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

a$.$ Calculate the profitability Index for project $x.$

Note: Do not round Intermedlate calculatlons and round your answer to $2$ decimal places.

Profitability index $$

b$.$ Calculate the profitability Index for project $Y.$

Note: Do not round Intermedlate calculatlons and round your answer to $2$ decimal places.

Profitability index $$

c$.$ Which project would you select based on the profitability index?

Project X

Project Y