1. These two projects X and Y have these cash flows:
Project X
Year 0 - $ 1,200
Year 1 - $ 600
Year 2 - $ 480
Year 3 - $ 300
Year 4 - $ 200
Project Y
Year 0 - $ 1,500
Year 1 - $ 750
Year 2 - $ 500
Year 3 - $ 400
Year 4 - $ 320
1. The discount rate is 10%, if we choose using NPV rule, which project we choose?
2. If using IRR rule, which project choose?