Problem 9-16 Problems with Profitability Index [LO1, 7] The Sloan Corporation is trying to choose between the following two mutually exclusive design projects Cash Flow Cash Flow Year -$68,000 $ 17,600 9,500 9,500 9,500 31,000 31,000 31,000 2 a-1 If the required return is 12 percent, what is the profitability index for both projects? (Do not round intermediate calculations. Round your answers to 3 decimal places, e.g., 32.161.) Profitability Index Project l Project II a-2 If the company applies the profitability index decision rule, which project should the firm accept? Projectl O ProjectI b-1 What is the NPV for both projects? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) NPV Project I Project ll b-2 If the company applies the NPV decision rule, which project should it take? Projectl O ProjectIl