2. Project P costs $35,800 and is expected to produce cash flows of $8,500 per year for six years. Project Q costs $90,000 and is expected to produce cash flows of $21,000 per year for six years. a. Calculate the NPV, IRR, MIRR, and traditional payback period for each project, assuming a required rate of return of 8 percent. b. If the projects are independent, which project(s) should be selected? If they are mutually exclusive, which project should be selected