You are a financial analyst for the Ubuntu Inc. The director of capital budgeting has asked you to analyse two proposed mutually exclusive capital investment projects, Projects x and Y. The cost of capital for each project is 12%The projects' expected net cash flows are as follows:

	Expected Net Cash Flows
year	project X	project Y
0	(100,000)	(10,000)
1	60500	5500
2	30000	4500
3	30000	3500
4	10000	3500

a. If you apply the payback criterion, which investment will you choose?

b. lf you apply the NPV criterion, which investment will you choose?

c. if you apply the IRR criterion, which investment will you choose?

d. you apply the MIRR criterion, which investment will you choose?

e. Based on your answers from A to D, which project will you finally choose? Why?