You must analyze two projects, X and Y. Each project costs $10,000 and the firms WACC is 14%. The expected cash flows are as follows:

	0	1	2	3	4
Project X	-20000	11000	7000	6000	5000
Project Y	-20000	8000	7500	7000	6500

(a.) Calculate each project Xs NPV, MIRR, and discounted payback.

(b.) Calculate each project Ys IRR and payback.

(c.) Which project(s) should be accepted if they are independent?

(d.) Which project(s) should be accepted if they are mutually exclusive?