SINO-PHARM Inc.is considering two mutually exclusive projects, X and Y, with the following cash flows: Cash Flows of Project X & Project Y: 0 1 2. 3 4 Project X Project Y -$1,000 - $1,000 $100 $1,000 $300 $100 $400 $50 $700 $50 18. The projects are equally risky, and their WACC is 12%. Which of the below statements is CORRECT? * A) NPV of Project X is Higher than the NPV of Project Y, while the MIRR of project Y is higher than the MIRR of project X. B) Project X is more preferable than project Y. C) NPV of Project X is Higher than the NPV of Project Y, also the MIRR of project X is higher than the MIRR of project Y. D) Options (B) and (C) are correct. O E) None of the above. Finjani Inc., a food and beverage company, is considering and assessing the following capital projects for investment over the next two years. Two new machines with costs of $4 million each, computer software upgrade with a cost of $1 million and multi-year replacement of two aging machines involving an investment of $4.5 million for the first machine and another $4.5 million for the second machine. 17. If projected savings from the first machine are realized. All of these projects have positive net present values and the available budget is $10 million. The company should accept: * A) All of these projects. B) Those projects with the highest expected O rates of return over the 2-year capital budgeting period. C) Those projects with the highest present value of expected future cash flows relative to required investment. OD) None of the above