Hermson Company must evaluate two capital expenditure proposals. Hermson's hurdle rate is 12%. Data for the two proposals follow.

Net Present Value Analysis Hermson Company must evaluate two capital expenditure proposals. Hermson's hurdle rate is 12%. Data for the two proposals follow. Proposal X Proposal Y Required investment $210,000 $210,000 Annual after-tax cash inflows 49,500 After-tax cash inflows at the end of years 3, 6, 9, and 12 148,500 Life of project 12 years 12 years Using net present value analysis, which proposal is the more attractive? Do not use negative signs with your answers. Round PV answers to the nearest whole number. Use rounded answers for subsequent calculation of net present value. Proposal x Proposal y Net present value Initial outflows 49,500 * $ 0 x PV of future cash flows 0 x Net present value 0 X $ OX $ 0 X $