4. A company is considering the following two projects: Project A requires an investment of 100 at t-0 and another investment of 100 at t-1. A cash X will be generated at t=1 if and only if both investment have been made Project B requires an investment of 100 at t-0 and another investment of 100 at t-1. A cash Y will be generated at t=1 if and only if both investment have been made The value of X and Y are contingent on the state of the industry att-1: State of industr Good Market return (% 20 -4 400 90 500 20 Let the risk free interest rate be 5% and the two projects be mutually exclusive. What should be the decision if (a) The second investment is paid before the state of industry att-l is known (b) The second investment is paid after the state of industry at t-1 is known