An interior design studio is trying to choose between the following two mutually exclusive design projects: Year 0 1 2 3 Cash Flow (1) -$64,000 31,000 31,000 31,000 Cash Flow (11) -$18,000 9,700 9,700 9,700 a-1 If the required return is 10 percent, what is the profitability index for both projects? (Round your answers to 3 decimal places. (e.g., 32.161)) Profitability Index Project 1 Project II a-2 If the company applies the profitability index decision rule, which project should the firm accept? Project 1 Project 11 b-1 What is the NPV for both projects? (Round your answers to 2 decimal places. (e.g., 32.16)) Project 1 Project II NPV $ $ b-21f the company applies the NPV decision rule, which project should it take? Project | Project