3. x You must analyze two projects, X and Y. Each project costs $10,000 and the firm's WACC is 12 percent. The expected net cash flows are: -$10000 -$10000 1 $6500 $3500 2 $3000 $3500 3 $3000 $3500 4 $1000 $3500 a. b. c. Calculate each project's NPV, IRR, and MIRR. Which project(s) should be accepted if they are independent? Which project should be accepted if they are mutually exclusive?