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 $12\mathrm{.}4\%$ 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 in order to copy the contents of the data table below into a spreadsheet.$)$

$\backslash$table$[[,$Project $x,$Project $Y,$Project $Z$