You are asked to evaluate the following two projects for the Norton corporation. Use a discount rate of $12$ percent. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Project X $($Videotapes of the Weather Report$)($$$50,000$ Investment$)$ Project Y $($Slow$-$Motion Replays of Commercials$)($$$70,000$ Investment$)$

Year Cash Flow Year Cash Flow

$1$ $ $25,0001$ $ $35,000$

$223,000228,000$

$324,000329,000$

$423,600431,000$