16. Nordstrom is consid identical initial om is considering two mutually exclusive projects, X and Y, with al initial outlays of $1,000,000 and useful lives of 5 years. Project X is ed to produce an after-tax cash flow of $300,000 each year. Project Y is cnected to generate a single after-tax net cash flow of $2,015,000 in year 5. The discount rate is 15 percent. a) Calculate the net present value for each project. (8 points) b) Calculate the IRR for each project. (8 points) c) What decision should Nordstrom make regarding these projects? (4 points)