Yong Importers, an Asian import company, is evaluating two mutually exclusive projects, Z and X. The relevant cash flows for each project are given in the table below. The cost of capital for use in evaluating each of these equally risky projects is 24 percent. Project Z Project X Initial Investment $350,000 $425,000 Year Cash Inflows Cash Inflows $140,000 $175,000 2 $165,000 $150,000 3456 $190,000 $125,000 $100,000 $75,000 $50,000 The Annualized NPV of project Z is a. $120,755 b. $51,501 $60,947 4. $17.051