You are asked to evaluating two manually exclusive projects x and y. the cash flow for each is listed below along with the calculated npv and irr. the firm's cost of capital is 12%.

1. Calculate the NPV of each project. Which project would you accept based on NPV criterion and why?
2. What Is the IRR of each project?
3. Would you accept/reject decision change for the projects X and Y if the cost of capital increased to 18%?

Year	Cash flow x	Cash flow y
0	-350,000	-35,000
1	25,000	17,000
2	70,000	11,000
3	70,000	17,000
4	430,000	11,000