Project X has an initial cost of $47,470, and its expected net cash inflows are $16,000 per year for 5 years. The firm has a WACC of 12 percent, and Project X's risk would be similar to that of the firm's existing assets. Calculate the net present value (NPV) of Project X. a. \$-2,075.85 b. $10,206.42 c. $57,676.42 d. $23,958.57 e. $32,530.00 QUESTION 4 Project M has an initial cost of $69,619, and its expected net cash inflows are $18,000 per year for 6 years. The firm has a WACC of 9 percent, and Project M's risk would be similar to that of the firm's existing assets. Calculate Project M's internal rate of return (IRR). a. 9.00% b. 7.59% c. 55.13% d. 18.46% e. 14.20%