Labeau Products, Ltd., of Perth, Australia, has $11,000 to invest. The company is trying to decide between two alternative uses for the funds as follows:

	Invest in Project X	Invest in Project Y
investment required	11,000	11,000
annual cash inflows	4,000
single cash inflow at the end of 6 years		25,000
life of the project	6 years	6 years

The companys discount rate is 15%.

a.

Determine the net present values.

	Project X	Project Y
Net Present Value	$4,138	???