2. The following cash flows are give for the two mutually exclusive projects X and Y. The project X requires an initial investment of $12,000 in time 'Oand project Y needs an initial investment of $10,000 in time 'o'. Year Project X Project Y 1 $4,500 $9,000 2 6,000 5,000 3 7,500 4.500 4 9,000 3,000 5 5,000 4,000 (a) Calculate the NPV for each project using a discount rate of 12%. (b) State your accept/reject decision (c) What would be your accept/reject decision if they were to be independent projects