Given a budget of $300,000, a company is evaluating two projects, Project X and Project Y, with the following cash flows:

Year	Project X	Project Y
1	$100,000	$30,000
2	$90,000	$50,000
3	$80,000	$70,000
4	$70,000	$90,000
5	$60,000	$110,000

The current cost of capital is 8%.

Required: a) Calculate the following for both projects:

• Simple payback period
• Discounted payback period
• Net present value
• Internal rate of return
• Profitability index

b) Recommend which project the company should choose based on the calculated metrics.