Question $1$

$1$ pts

A firm is planning to improve its infrastructure, and currently there are two projects considered for this purpose: Project $x$ and Project $Y.$ Project $x$ has an initial cost of $$73,041\mathrm{.}26$ and is expected to generate annual cash flows of $$10,000$ for the next $13$ years. Project $Y$ has an initial cost of $$33,000\mathrm{.}00$ and is expected to generate annual cash flows of $$5,400$ for the next $13$ years. What is the crossover rate?

$5\mathrm{.}85\%$

$5\mathrm{.}98\%$

$6\mathrm{.}42\%$

$6\mathrm{.}48\%$

$6\mathrm{.}29\%$