3) A project manager has a choice of two projects Project ABC: It requires an initial investment of $1300 (Year O). It then pays out $ X+260 in Year 1, $1060 in Year 2, and $1300 in Year 3. Project DEF: It requires an initial investment of $X (Year O). It then pays out $ X+500 in Year 1, $1300 in Year 2, and $1700 in Year 3. The rate of interest is 13%. Find the range of X where Project DEF is more valuable than Project ABC