You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of 11 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) ($40,000 Investment) Year 1 4 Project Y (Slow-Motion Replays of Commercials) ($60,000 Investment) Cash Flow Year $ 20,000 1 18,000 19,000 18,600 2 4 Cash Flow $ 30,000 23,000 24,000 26,000 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