2. Nickel, Inc. is considering two mutually exclusive projects, X and Y. Project X costs $95,000 and is expected to generate $65,000 in year one and $75,000 in year two. Project Y costs $120,000 and is expected to generate $64,000 in year one, $67,000 in year two, $56,000 in year three, and $45,000 in year four. The firm's cost of capital for these projects is 12%. What is the Profitability Index for Project X? (1 Point) 1240 1224 1.268 1.250 3. Platinum, Inc. is considering two mutually exclusive projects, X and Y Project X costs $95,000 today and is expected to generate $65,000 in year one and $75,000 in year two. Project Y costs $120,000 and is expected to generate $64,000 in year one, $67,000 in year two, $56,000 in year three, and $45,000 in year four. The firm's investors require a rate of return of 15% and the weighted average cost of capital is 12%. What is the equivalent annual annuity for Project Y needed to compare the two projects? (1 Point) Cannot be calculated because the net present value of Project Y is negative. 59012