Initiative X requires an initial investment of exist10,000 and has annual cash flows of exist3,000 each year for five years. Initiative Y requires an initial investment of exist12,000 and has NCFs of exist2,000, exist2,000, exist3,000, exist4,000 and exist6,000 in years 1 through 5, respectively. The required rate is 10%. Compute the net present values of the two projects. Answer the following based on your NPV calculations. (i) If X and Y are independent, which initiative(s) would you choose? Why? (ii) If X and Y are mutually exclusive, which initiative(s) would you choose? Why? The Standard Payback is 3 years. Compute the payback periods for the two projects. Answer the following based on your Payback calculations. (i) If X and Y are independent, which initiative(s) would you choose? Why? (ii) If X and Y are mutually exclusive, which initiative(s) would you choose? Why? Compute the IRR for the two projects. Answer the following based on your IRR calculations. (i) If X and Y are independent, which initiative(s) would you choose? Why? (ii) If X and Y are mutually exclusive, which initiative(s) would you choose? Why