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) ($22,000 Investment) Year 1 $11,000 Project Y (Slow-Motion Replays of Commercials) ($42,000 Investment) Cash Flow Year 1 2 9,000 2 3 10,000 3 nces 4 9,600 4 Cash Flow $ 21,000 14,000 15,000 17,000 a. Calculate the profitability index for project X. (Do not round intermediate calculations and round your answer to 2 decimal places.) Profitability index