3. The company must choose between two mutually exclusive projects. The cost of capital is 9%. The cash flows are as follows: Year 1 Year 2 Year 3 Project X Project Y -$50,000 -50,000 S5000 $40,000 10,000 $30,000 20,000 $20,000 35,000 $10,000 55,000 SO $25,000 $20,000 Year 4 Year 5 Average A. Calculate the following: Project X Rank Project Y Accept/Reject a. Payback Period: b. NPV c. IRR B. Which project would you recommend? Why