JKL Enterprises is considering two projects, X and Y, each requiring an initial investment of $100,000. The expected cash flows from the projects are as follows:

Year	Project X ($)	Project Y ($)
1	30,000	50,000
2	40,000	40,000
3	50,000	30,000
4	20,000	20,000

The cost of capital is 10%.

Required: a. Calculate the Net Present Value (NPV) for each project. b. Calculate the Internal Rate of Return (IRR) for each project. c. Recommend which project should be accepted based on NPV and IRR. d. Discuss other qualitative factors that should be considered before making the final decision.