You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of 10 percent. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. Project X (Videotapes of the Weather Report) ($24,000 Investment) Cash Flow Year 1 2 3 4 $12,000 10,000 11,000 10,600 Profitability index Project Y (Slow-Motion Replays of Commercials) ($44,000 Investment) Cash Flow $ 22,000 Year 1 2 Profitability index 3 4 a. Calculate the profitability index for project X. (Do not round intermediate calculations and round your answer to 2 decimal places.) 15,000 16,000 18,000 b. Calculate the profitability index for project Y. (Do not round intermediate calculations and round your answer to 2 decimal places.) Period 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 25 30 40 50 1% 0.990 0.980 0.971 0.961 0.951 0.942 0.933 0.923 0.914 0.905 0.896 0.887 0.879 0.870 0.861 0,804 0.788 0.773 0.758 0.743 0.853 0.728 0.844 0.836 2% 3% 0.980 0.971 0.961 0.943 0.942 0.915 0.924 0.888 0.906 0.863 0.888 0.837 0.871 0.813 0.853 0.828 0.820 0.780 0.742 0.672 0.608 0.837 0.820 0.714 0.700 0.686 0.673 0.610 0.552 0.453 0.372 0.760 0.731 0.703 0.676 0.722 0.650 0.701 0.625 0.681 0.601 0.661 0.577 0.642 0.555 0.623 0.534 0.513 0.494 0.789 0.766 0.744 0.605 0.587 0.570 0.554 0.478 4% 5% 0.962 0.952 0.925 0.907 0.889 0.864 0.855 0.823 0.822 0.784 0.790 0.746 0.711 0.677 0.645 0.614 0.412 0.307 0.228 0.475 0.456 0.375 0.308 0.208 0.141 0.585 0.557 0.530 0.505 Percent 6% 7% 0.943 0.935 0.890 0.873 0.840 0.816 0.792 0.763 0.735 0.747 0.681 0.713 0.705 0.666 0.630 0.665 0.623 0.62 0.582 0.592 0.544 0.558 0.508 0.527 0.475 0.497 0.444 0415 0.469 0.442 0.388 0.417 0.362 0.394 0.339 0.317 0.296 0.277 0.258 0.481 0.458 0.436 0,371 0416 0.350 0.396 0.331 0.377 0.312 0.295 0.233 0.231 0.174 0.142 0.087 0.184 0.131 0.097 0.067 0.054 0.034 8% 0.926 0.857 0.794 9% 10% 0.917 0.909 0.842 0.826 0.772 0.751 0,708 0.683 0.650 0.621 0.564 0.596 0.583 0.547 0.513 0.540 0.502 0.500 0.460 0.463 0.422 0.388 0.429 0.397 0.368 0.340 0.315 0.292 0.270 0,250 0.232 0.215 0.146 0.099 0.046 0.021 11% 0.901 0.812 0.731 0.659 0.593 0.535 0.482 0.467 0.434 0.424 0.391 0.386 0.352 0.350 0.317 0.319 0.286 0.290 0.258 0.263 0.232 0.239 0209 0.218 0.188 0.198 0.170 0.212 0.180 0.153 0.194 0.164 0.138 0.178 0.149 0.124 0.116 0.092 0.074 0,075 0.057 0.044 0.032 0.022 0.015 0.013 0.009 0.005 0.356 0.326 0.299 0.275 0.252 0.231 12% 0.893 0.797 0.712 0.636 0.567 0.507 0.452 0.404 0.361 0.322 0.287 0.257 0.229 0.205 0.183 0.163 0.146 0.130 0.116 0.104 0.059 0,033 0.011 0.003