Binkum Corporation is a manufacturing Firm. The management is considering whether to accept one of the mutually exclusive investment projects. Each project involves an initial outlay of $200$ Million. Bincums Finance manager estimates that the net cash inflows from each project will be as follows; Project X Project Y Year Net Cash flow Net cash flow $($ Ksh$.$ Million$)($Ksh$.$ Million$)11202028040360220$The companys cost of capital is $7\%$Required$1)$ Calculate the Net Present Value $($NPV$)$ and Internal Rate of Return $($IRR$)$ of each project and recommend the project to be chosen. Justify your choice $(8$ marks$)2)$ At what cost of capital $($Discount Rate$)$ will the company be indifferent to the two projects $(($Illustrate your answer with a graph$)(4$ marks$)3)$ On the basis of information given advise the management which project to accept if the discount rate is $($a $5\%,$ b$13\%,$ c$18\%).$ Comment on your answers $(4$ Marks$)4)$ Discuss the relative merits of NPV and IRR as methods of investment appraisal$(4$ marks$)$