What is the standard cell potential for the reaction with $K=1$ (equilibrium constant)

The maximum work that can be obtained from the following cells is

$$ X\left|X^{2+}(a q) \| Y^{+}(a q)\right| Y $$

Given, $E_{X^{2+} / X}^{\circ}=-1.7 \mathrm{~V}, E_{Y^{2+} / Y}^{\circ}=0.8 \mathrm{~V}$

The standard electrode potentials of $\mathrm{Ag}^{+} / \mathrm{Ag}$ is +0.80 V and $\mathrm{Cu}^{+} / \mathrm{Cu}$ is +0.34 V . If these electrodes are connected through a salt-bridge, which of the following statements is correct?