Consider the following mutually exclusive investments

	T=0	1	2	3
Project X:	-150	30	60	120
Project Y:	-150	110	30	60

1. Draw a graph (NPV schedule), where you will show the NPV of each project as a function of its discount rate (i.e., NPV on the vertical axis and r on the horizontal axis). Both NPVs should be on the same graph.

2. Please describe as fully as possible which project is the best and under which circumstances.