7 CAPITAL BUDGETING CRITERIA A firm with a 14% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as follows: 0 Project M $30,000 $10,000 $10,000 $10,000 $10,000 $10,000 Project N $90,000 $28,000 $28,000 $28,000 $28,000 $28,000 a. Calculate NPV, IRR, MIRR, payback, and discounted payback for each project. b. Assuming the projects are independent, which onefs) would you recommend