Projects With Unequal Lives: Two mutually exclusive investment projects with unequal lives have initial investment requirements, subsequent cash inows, and risk-adjusted discount rates as shown below: Project X Project Y M: = 2 Years N, = 3 Years 1;; = $10,000 [1 = $15,000 Year End-ofYear Cash Inows: 1 $7,000 $13,500 2 $9,000 $8,000 3 $1,000 Risk-Adjusted Discount Rates: kx = 10.2% k, = 11.9% [Note that the risk-adjusted discount rates are not the same for these two projects!] A. Assume that both projects will be carried out for 24 years (putting them on an equal-lived basis) and calculate the NPV of each project to decide which project(s) should be selected (X, Y, Neither, or Both). B. Assume both projects are replicable forever (again putting them on an equal-lived basis) and calculate the NPV of each project to decide which project(s) should be selected (X, Y, Neither, or Both)