Question 17 Input area: $ $ Annual C Year 0 $ Year 1 $ Year 2 $ Year 3 $ Year 4 $ A A A A A Y (47,600) 23,900 18,600 20,700 14,600 Z (81,000) 34,000 32,800 30,500 27,300 $ $ Required return 12% a. PI (Y) PL (Z) Profitability index criterion implies accept because its Pl is larger. b. NPV (Y) NPV (Z) NPV criterion implies accept because it has a higher NPV. The only decision rule that can rank mutually exclusive projects is NPV, Therefore you should accept C