You are asked to evaluate the following two projects for Boring Corporation Use a discourt rate of 12 percent Use Bendix B Project X (OVDS Project y (Slow-Motion of the Weather Reports) Replays of Commercials ($26,000 Investment) (146,00 Investment Year Cash Flow Year Cash Flow $13,000 $23,000 11,000 2 16.000 12,000 12.000 19.00 1 11,660 4 47 a. Calculate the profitability index for project X. (Round "PV Factor" to 3 decimal places. Round the final answer to 2 decimal 3 places.) PI b. Calculate the profitability index for project Y (Round "PU Factor" to 3 decimal places. Round the final answer to 2 decimal places.) PI c. Using the NPV method combined with the Pl approach, which project would you selec? Use a discount rate of 12 percent O Project O Project X