You are asked to evaluate the tollowing two projects for Boring Corporation Use a discount rate of 12 percent. Use Appendix B. Project X (OVDS Proje Y (510W-Motion of the Weather Reports) Replays of Commercials) (316,000 Investment) (336,600 Investment) Year Cash Flow Year Cash Flow $8,000 $18, eee 2 6,000 2 11,800 3 7,000 3 12, eee 6,609 14,000 1 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 12 percent O Project Y O Project X