Addison Enterprises is considering two mutually exclusive projects, Both require an initial investment of $10,000, and their risks are average for the firm Project X has an expected life of 2 years while project has an expected life of 4 years Addison's cost of capital is 11.0% and it has estimated the NPV of Project X to be $2,535,51 and the NPV of Project Y to be 54.736.62. Use the equivalent annual annuity method to determine the annuity of the most profitable project $1.37406 $1236.66 $1.112.99 $1.526.74