16. Nordstrom is considering two mutually exclusive projects, X and Y, with identical initial outlays of S1,000,000 and useful lives of 5 years. Project X is expected to produce an after-tax cash flow of $300,000 each year. Project Y is expected to generate a single after-tax net cash flow of $2,015,000 in year 5. The discount rate is 15 percent. a) Calculate the net present value for each project. (8 points) b) Calculate the IRR for each project. (8 points) c) What decision should Nordstroth make regarding these projects? (4 points)