Question 31 1 pts As the director of capital budgeting for Denver Corporation, you are evaluating two mutually exclusive projects with the following net cash flows: Project X Project? Year Cash Flow Cash Flow 0 -$100,000 -$100,000 50,000 1 10,000 2 40,000 30,000 3 30,000 40,000 4 10,000 70,000 If Denver's cost of capital is 12 percent, which project would you choose? Project X since it has the higher IRR O Project X and Project Zsince both have a positive NPV Neither project should be chosen Project Z, since it has the higher NPV