Instructions: Solve ONLY 1 problem in PART II. Show all your work. Do not round intermediate calculations. Final dollar answers should be rounded to two decimal places. Final interest rate answers should be rounded to 4 decimal places as a percent. 1. (5 points) ASB Corp. is considering the following two project proposals X and Y. The projected cash flows for project X, and Y are as follows: The effective annual required rate of return for both projects is 32%. Only one of the two projects can be accepted, Use the IRR method with incremental project (XY) to show which project is preferred. Explain your result. (HINT: First determine whether Project (X - Y) has multiple IRR's)