(Ignore income taxes in this problem.) The Sawyer Corporation has $115,000 to invest and is considering two different projects, X and Y. The following data are available on the projects: Click here to view Exhibit 8B-1 and Exhibit 88-2 to determine the appropriate discount factor(s) using tables. Projectx $115,000 Project Y Cost of equipment needed now Working capital requirement Annual cash operating Inflows Salvage value In 5 years $115,000 $24,000 $29,000 6,000 Both projects will have a useful life of 5 years, at the end of 5 years, the working capital will be released for use elsewhere. Sawyer's discount rate is 9%. The net present value of project X is closest to: O $1,308 O ($7101) O $676 o $1,710