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 of the Weather Report$)($$$44,000$ Investment$)$ Project Y $($Slow$-$Motion Replays of Commercials$)($$$64,000$ Investment$)$

Year Cash Flow Year Cash Flow

$1$ $ $22,0001$ $ $32,000$

$220,000225,000$

$321,000326,000$

$420,600428,000$

Calculate the profitability index for project X$.$

Note: Do not round intermediate calculations and round your answer to $2$ decimal places.

Calculate the profitability index for project Y$.$

Note: Do not round intermediate calculations and round your answer to $2$ decimal places.