Pixie Group, a consumer electronics conglomerate, is reviewing its annual budget in wireless technology. It is considering investments in three different technologies to develop wireless communication devices. Consider the following cash flows of the three independent projects for Pixie. Assume the discount rate is 8 percent. Further, Pixie Group has only $16 million to invest in new projects this year.

Cash Flows (in $ millions)

Year	CDMA			G4			Wi-Fi
0	$	4.0		$	12		$	16
1		6.0			9			13
2		2.5			23			29
3		1.5			16			16

a.	Calculate the profitability index for each investment. (Do not round intermediate calculations and round your answers to 2 decimal places (e.g., 32.16).)

	Profitability index
CDMA
G4
Wi-Fi