UVW Corporation is considering two long-term projects, Project U and Project V, with the following details:

• Project U: Cost of Capital - 9%, Initial Investment - $280,000, Cash Inflow Year 1 - $50,000, Cash Inflow Year 2 - $60,000, Cash Inflow Year 3 - $70,000
• Project V: Cost of Capital - 8%, Initial Investment - $320,000, Cash Inflow Year 1 - $60,000, Cash Inflow Year 2 - $70,000, Cash Inflow Year 3 - $80,000 Calculate the profitability index for Project U and Project V. Interpret the results and provide a recommendation on project selection.