2 Cikk to see additional instructions Projects I and 2. of equal risk are alternatives for expanding X Company's capacity. The firu's cost of capital is 13. The cash flows for each project are shown in the following table Project 1 Project 2 Initial investment S180.000 $150,000 Year Cash inflows . $45.000 $45.000 550.000 $45.000 $55.000 545.000 560.000 $45.000 $65,000 $45.000 Your Answer: (Round to two decimal places.) a. The payback period of Project is years The payback period of Project 2 is years. b. The NPV of Project 1 is $ The NPV of Project 2 is $ c. The IRR of Project 1 is The IRR of Project 2 is d. Which project will you recommend? Project 96. 9