Problem-Capital Budgeting using Payback and Net Present Value: Central Trailer Supply has received two project proposals from company managers. Both projects have a 4-year life. The Company requires an 8% return on any investment. Project X Project Y Initial Investment 70,000 60,000 Annual cash saved from operations: Year 1 22,000 12,000 Year 2 22,000 20,000 Year 3 22,000 18,000 Year 4 22,000 14,000 Required: a. Determine the payback in years for each project. (show calculations for full credit) b. Determine the net present value in years for each project. (show calculations for full credit) Identify the best proposal based on your analysis