You are asked to evaluate the following two projects for Boring Corporation. Use a discount rate of 12 percent. Use Append Project X (DVDs of the Weather Reports) ($50,000 Investment) Project Y (Slow-Motion Replays of Commercials) ($70,000 Investment) Cash Flow Cash Flow PI Year 1 2 3 4 PI $25,000 23,000 24,000 23,600 Year 1 a. Calculate the profitability index for project X. (Round "PV Factor" to 3 decimal places. Round the final answer to 2 deci places.) 2 3 4 O Project Y O Project X $35,000 28,000 29,000 31,000 b. Calculate the profitability index for project Y. (Round "PV Factor" to 3 decimal places. Round the final answer to 2 deci places.) c. Using the NPV method combined with the Pl approach, which project would you select? Use a discount rate of 12 percen