When considering mutually exclusively: X and Y Projects have these cash flows
Project X
Year 0 - $18,800
Year 1 - $8,500
Year 2 - $5,400
year 3 - $4,700
Year 4 - $3,100
Year 5 - $2,600
Project Y
Year 0 - $23,500
Year 1 - $8,920
Year 2 - $7,092
Year 3 - $6,115
Year 4 - $4,980
Year 5 - $3,206
The discount rate is 8%, what project we choose? Show why please.