Your company is considering two mutually exclusive projects, X and Y whose costs and cash flows are shown below. Assume that the projects are equally risky, and their cost of capital is 12%. Year 0 Project X $(5,500) Project Y $(5,500) 1 2 1,000 4,500 1,500 1,500 3 4 2,000 1,000 4,500 800 What are the projects' payback periods?