You must analyze two projects, X and Y. Each project costs $10,000, and the firms WACC is 12%. The expected net cash flows are as follows: Project X Project Y 0 -$10,000 -$10,000 1 $6,500 $3,500 2 $3,000 $3,500 3 $3,000 $3,500 4 $1,000 $3,500 a. Calculate each projects NPV, IRR, MIRR, payback, and discounted payback. b. Which project(s) should be accepted if they are independent? c. Which project(s) should be accepted if they are mutually exclusive? Hint: (Project-X IRR = 17%, 18% : MIRR = 14.61%) (Project-Y IRR = 15%, 16% : MIRR = 13.73%)

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