4. A firm with a 14% cost of capital is evaluating two projects for this year's capital budget. After- tax cash flows, including depreciation, are as follows: (15 points) Project M Project) 0 -P30,000 -P90,000 1 10,000 35,000 2 10,000 35,000 3 10,000 35,000 a. Calculate NPV, IRR, payback for each project. b. Assuming the projects are independent, which one(s) would you recommend? C. If the projects are mutually exclusive, which would you recommend