Unequal lives$-$ANPV approach Portland Products is considering the purchase of one of three mutually exclusive projects for increasing production efficiency. The firm plans to use a $12\mathrm{.}6\%$ cost of capital to evaluate these equal$-$risk projects. The initial investment and annual cash inflows over the life of each project are shown in the following table. $($Click on the icon here the contents of the data table below into a spreadsheet.$)$

$\backslash$table$[[,$Project $x,$Project $Y,$Project Z$,],[$Initial investment $(C{F}_0),$$$78,000,$$$52,000,$$$66,000,],[$Year $(t),$Cash inflows $(C{F}_t)$