You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of 14 percent. Use Appendix 8 for an approximate answer but calculate your final answer using the formula and financial calculator methods. Project X (Videotapes of the Weather Report) ($20,000 Investment) Year Cash Flow $10,000 Year Project Y (Slow-Motion Replays of Commercials) ($40,000 Investment) Cash Flow $ 20,000 13,000 14,000 16,000 1 1 2 8,000 2 3 3 9,000 8,600 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