3. Problem 11.07 (Capital Budgeting Criteria) A firm with a 14% WACC is evoluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as a. Calculate NPV for each project. Do not round intermediate calculations. Round your answers to the nearest cent. Project M: $ Project N: $ Calculate IRR for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: Project N: Calculate MIRR for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: Project N : Calculate payback for each project, Do not round intermediate calculations. Round your answers to two decimal places. \begin{tabular}{l|l} Project M: & % \\ Project N: & % \end{tabular} Calculate payback for each project. Do not round intermediate calculations. Round your answers to two decimal places. ProjectM:ProjectN:yearsyears Calculate discounted payback for each project. Do not round intermediate calculations. Round your answers to two decimal places. ProjectM:ProjectN:yearsyears b. Assuming the projects are independent, which one(s) would you recommend? c. If the projects are mutually exclusive, which would you recommend? d. Notice that the projects have the same cash flow timing pattern. Why is there a conflict between NPV and IRR? Project M:% Project N1% Calculate payback for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: Project N : Caiculate discounted payback for each project. Do not round intermediate calculations. Round your answers to two decimal places . \begin{tabular}{ll} Project M: & years \\ Project N: & years \\ \hline \end{tabular} b. Assuming the projects are independent, which one(s) would you recommend? select c. If the projects ore mutually exclusive, which would you recommend? d. Notice that the projects have the same cash flow timing pattem. Why is there a conflict between NPV and IRR? ject. Do not reund ietermediate calcutabenis- Round your ansivers to troo decime piaces. fich one (s) would you recpmmend? th weuld yeu recterenend? Fow timing patbern. Why is there a contikct between NPN and IFR? t. round intermediate calculations. Found your answers to texp decimal places Qect. Do not round intermediate calculations. Reund yeur aniswers to two detimal pilfoes. hich one(s) would you recsmmend? -Select- The conflict between NPV tround intermediate calculations. Round your answers to two decimal places. and IRR is due to the fact that the cash flows are in the form of an annuity. The conflict between NPV and IRR is due to the difference in the timing of the cash flows. ject. Do not round intermediate calculations. Round your answers to two decimal places. There is no conflict between NPV and IRR. Which one(s) would you recommend? The conflict between NPV ch would you recommend? and IRR occurs due to the sh flow timing pattem. Why is there a confict between NPV and IRR? difference in the size of the projects. The conflict between NPV and IRR is due to the relatively high discount rate. Continue without saving