7. Problem 11.07 (Capital Budgeting Criteria) A firm with a 13\% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as follows: a. Calculate NPV for each project. Do not round intermediate calculations. Round your answers to the nearest cent. Project M: 5 Project N : $ Calculate IRR for each project, Do not round intermediate calculations. Round your answers to two decimat piaces: Project M : Project N : Caiculate MiRR for each preject. Do not round intermediate calculations. Round your answers to two decimal places. Project M : Project N : Calculate payback foc each project. Do not round intermediate calculations. Round your snswers to two decimal places. Project M? yean Calculate MIRR 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 piaces. Project M: Project N: Calculate discounted payback for each project. Do not round intermediate calculations. Round your answers to two decimal places. \begin{tabular}{l} Caiculate discounted payback for \\ Project M: \\ Project N: \\ years \\ \hline \end{tabular} b. Assuming the projects are independent, which one(s) wonld you recommend? c. If the projects are mutually exclusive, which would you recommend? Select. d. Notice that the projects have the same cash flow timing pattern. Why is there a conflict between NPV and IRR