Current Attempt in Progress Tailor Corp. is considering purchasing one of two new diagnostic machines. The following estimated data has been determined by management: Machine 1 Machine 2 Initial cost $40,450 $50,450 Estimated life 5 years 5 years Salvage value $1,060 $1,500 Estimated annual cash inflows $15,050 $19,800 Estimated annual cash outflows $3,950 $7,100 Click here to view PV table. Calculate the profitability index assuming an 8% discount rate. (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 1.25124 and final answers to 3 decimal places, e.g. 1.251.) Profitability Index Machine 1 Machine 2 Based on your answer, which project should the company choose