You are asked to evaluate the following two projects for Boring Corporation. Use a discount rate of 10 percent. Use Appendix B. Project X (DVDs of the Weather Reports) ($32,000 Investment) Year Cash Flow 1 $16,000 2 14,000 3 15,000 4 14,600 Project Y (Slow-Motion Replays of Commercials) ($52,000 Investment) Year Cash Flow $ 26,000 2 19,000 3 20,000 4 22,000 1 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 Pl approach, which project would you select? Use a discount rate of 10 percent. Project Y Project X