Parker Company has received four investment proposals for consideration. Two of the proposals, X1 and X2, are mutually exclusive. The other two proposals, Y1 and Y2 are also mutually exclusive. Proposal Y1 is contingent on X1 and Y2 is contingent on X2. Other than these restrictions, any combination of proposals (including null) is feasible. MARR is 10%/year. The expected cash flows for the proposals are shown below. An internal rate of return analysis is to be conducted.

EOY	X1	X2	Y1	Y2
0	-$10,000	-$15,000	-$6,000	-$9,000
1 through 8	$1,600	$2,600	$2,500	$3,500

a. List all the alternatives to be considered.

b. Determine which (if any) proposals Parker Company should accept. Do not forget to show your work. Hint: start by calculating the total initial cost for each of the alternatives listed above.

Please don't use excel functions, just show condensed formulas, ex: (P/F,i(%),n) , etc. Thank you!