Labeau Products, Ltd., of Perth, Australia, has $20,000 to invest. The company is trying to decide between two alternative uses for the funds as follows: Invest Invest in in Project Project X Y $ 20,000 $20,000 $ 6,000 $ 40,000 6 years 6 years Investment required Annual cash inflows Single cash inflow at the end of 6 years Life of the project The company's discount rate is 16%. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: 1. Compute the net present value of Project X. 2. Compute the net present value of Project Y. 3. Which project would you recommend the company accept