You are analyzing two mutually exclusive projects with the following cash flows:

Year	Project X	Project Y
0	-$3,000,000	-$3,500,000
1	$1,200,000	$1,500,000
2	$1,500,000	$1,700,000
3	$1,300,000	$1,200,000
4	$800,000	$1,800,000

a. Calculate the NPV of each project assuming a cost of capital of 12%. Which project is more profitable? b. Determine the IRR of each project. c. Identify which project should be selected based on NPV and IRR. d. Discuss any non-financial factors that should be considered before making the decision.