You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of 13 percent. UseAppendix Bfor an approximate answer but calculate your final answer using the formula and financial calculator methods.

You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of 13 percent. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. Project X (Videotapes Project Y (Slow-Motion of the Weather Report) Replays of Commercials) ($44, 000 Investment) ($64, 000 Investment) Year Cash Flow Year Cash Flow $22, 000 $ 32, 000 20,006 25,006 AWNH AWNH 21, 000 26,000 20, 600 28, 000 a. Calculate the profitability index for project X. (Do not round intermediate calculations and round your answer to 2 decimal places.) Profitability index b. Calculate the profitability index for project Y. (Do not round intermediate calculations and round your answer to 2 decimal places.) Profitability index c. Which project would you select based on the profitability index? O Project X O Project Y