A company has $275,000 to invest in either project M or project N with the following cash flows:

Year	Project M	Project N
1	$85,000	$25,000
2	$85,000	$55,000
3	$85,000	$95,000
4	$85,000	$105,000
5	$85,000	$70,000

The applicable discount rate is 11%.

Required:

1. Calculate for each project:
   • Simple payback period
   • Discounted payback period
   • Net present value
   • Internal rate of return
   • Profitability index

Advise the firm based on the results of the analysis.