You are a financial analyst for the Hittle Company. The director of capital budgeting has asked you to analyse two proposed capital investments, Projects X and Y. Each project has a cost of $10,000, and the cost of capital for each project is 12 percent. The projects expected net cash flows are as follows:

Year	Project X	Project y
0	($10,000)	($10,000)
1	6,500	3,500
2	3,000	3,500
3	3,000	3,500
4	1,000	3,500

Calculate each projects net present value (NPV)