A firm with a cost of capital of 8% have two mutually exclusive projects. Project X requires an initial investment of $35.000 today and is expected to generate $12,000 for the next 18 years. Project Y requires an initial investment of $46,000 and is expected to generate $15,200 for the next 18 years. The firm will choose Project Y, which has an NPV of $96.453 Project Y, which has an NPV of $105,134 Project Y, which has an NPV of $84,435 both projects, with NPV of $77,463 for Project X and $96,453 for Project Y Project X which has an NPV of $96,453