You are asked to evaluate the following two projects for Boring Corporation. Use a discount rate of 14 percent Use Appendir Project X (DVDS of the leather Reports) (542,880 Investment) Year Cash Flow 1 $21,000 19,000 20,000 19,600 Project Y (Slow-Motion Replays of Commercials) (562,000 Investment) Year Cash Flow 1 $31,600 2. 3 24,000 25,000 27,200 2 3 4 0. Calculate the profitability index for project X. (Round "PV Factor" to 3 decimal places. Round the final answer to 7 6ecine/ places.) PI b. Calculate the profitability index for project Y. (Round "PV Factor" to 3 decimal places. Round the final answer to 7 decimal places.) PI c. Using the NPV method combined with the P approach, which prolec would you sele? Use a discount per Project Y Project X