Projects X and Y have the following cash flows:

Year	Project X	Project Y
0	$(900)	$(1,200)
1	$300	$400
2	$300	$400
3	$400	$500
4	$500	$600

The company's cost of capital is 10%.

1. Calculate the NPV for each project.
2. Compute the IRR for each project.
3. Determine the MIRR for each project assuming reinvestment at the cost of capital.
4. Based on NPV, IRR, and MIRR, recommend which project should be undertaken.