2. Cleto Company is considering two projects. Cleto requires a minimum rate of return of 8%. each for total 5 points) Initial investment Annual cash flows Life of the project Depreciation per year Project X $500,000 Project Y $100,000 $ 88,500 $ 34,320 10 years 4 years $ 50,000 $ 25,000 Present value of an Annuity of $1 Periods 4% 6% 8% 10% 12% 14% 1 0.962 0.943 0.926 0.909 0.893 0.877 2 1.886 1.833 1.783 1.736 1.690 1.647 3 2.775 2.673 2.577 2.487 2.402 2.322 4 3.630 3.465 3.312 3.170 3.037 2.914 5 4.452 4.212 3.993 3.791 3.605 4.433 16 5.242 4.917 4.623 4.355 4.111 3.889 7 6.002 5.582 5.206 4.868 4.564 4.288 8 6.733 6.210 5.747 5.335 4.968 4.639 9 7.435 6.802 6.247 5.759 5.328 4.946 10 8.111 7.360 6.710 6.145 5.650 5.216 a) What is the net present value for Project X? a. Factor from table b. Show calculation c. Answer b) What is the net present value for Project Y? a. Factor from table b. Show calculation c