Year	Proj Y	Proj Z
0	($2,500,000)	($2,500,000)
1	2,100,000	950,000
2	875,000	863,000
3		675,000
4		900,250

1. Compare both projects using NPV if the cost of capital is 10%.
2. Compare each project using the IRR approach.
3. Now compare both projects using the equivalent annual annuity (EAA) method.
4. Compare each project using the replication approach.