A company LDC is considering the following mutually exclusive investment project. The initial investment for project M is $28,800 and that for project N is $32,500. The life of both projects is 10 years. The probability distribution of the cash flows of the projects is given as follows. LDC uses a WACC of 14.75% for less risky projects and 16.75 for riskier project.

Project M		Project N
Probability	Cash Flow	Probability	Cash Flow
10%	$12,000	20%	$16,650
80%	10,000	30%	8,508
10%	10,000	30%	19,100
		20%	12,000

You must show all your calculations(work) step by step no excel please

1. Calculate standard deviation (SD) and the coefficient of variation (CV) for each project? Please show all your work(calculations) step by step and make a comment as which project is riskier and why?
2. Calculate risk adjusted NPV for each project. Please show all your work(calculations) step by step and explain your approach in writing.
3. What project do you advise LDC to select? Please make a comment on your results in 4 lines.