As the director of capital budgeting for Island Corporation you are evaluating two mutually exclusive projects with the following net cash flows: WNO 4 Project X Project Y Year Cash Flow Cash Flow -$200,000 -$200,000 80,000 20,000 30,000 60,000 3 20,000 50,000 80,000 90,000 If Island Corporation's cost of capital is 17 percent, which project would you choose? TO RECEIVE CREDIT FOR THIS QUESTION YOU MUST SHOW BOTH YOUR ANSWER, ROUNDED TO TWO DECIMAL PLACES, AND THE CALCULATIONS USED TO ARRIVE AT THAT ANSWER. COMPUTATIONS FOR IRR, NPV AND OTHER TIME VALUE OF MONEY PROBLEMS MUST BE SOLVED WITH YOUR REQUIRED COURSE CALCULATOR. IF REQUESTED YOU MUST BE ABLE TO DEMONSTRATE THAT YOU USED THE REQUIRED COURSE CALCULATOR TO SOLVE THESE TYPE OF PROBLEMS