A firm's cost of capital is 15%. It is evaluating two potential investment opportunities: Project X and Project Y. Project X: Requires immediate cash outlay of $10,000 today and is expected to generate after-tax cash flows of $7,000 in year 1 and $6,000 in year 2. Project Y: Requires a $10,600 outlay today and is expected to generate after-tax cash flows of $5,000 for each of the next three years. Both projects are replicable (i.e., the firm is able to reinvest in the same project again with the same cash outflow and inflow) after their investment time frame (2 and 3 years respectively). Evaluate which project is more valuable (you have to point out which one you choose and explain why)