An enterprise has to decide between two investment projects from which the next information is known: The investment X requires an initial investment of 150 million euros, generating annual cash flow (also in million euros) of 30 the first year, 56 the second year and 150 the third one. Meanwhile, the investment Y also requires an initial investment of 150 million euros, but it generates annual cash flow (also in million euros) of 40 the first year, 50 the second year and 135 the third one. If the discount rate that the enterprise demand to their investments is 15%, it is request to establish, in relation to the rate of profitability, if the investments are profitable and which one of both of them is preferable.