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Labeau Products, Ltd., of Perth, Australia, has $23,000 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	$	23,000	$	23,000
Annual cash inflows	$	7,000
Single cash inflow at the end of 6 years			$	43,000
Life of the project	6 years	6 years

The companys discount rate is 16%.

Required:

a.	Determine the net present values. ..............