A firm with 13% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as follows: 0 1 2 3 4 5 Project M Project N -$18,000 $6,000 $6,000 $6,000 $6,000 $6,000 -$54,000 $16,800 $16,800 $16,800 $16,800 $16,800 a. Calculate NPV for each project. Do not round intermediate calculations. Round your answers to the nearest cent. Project M: $ 3103.39 Project N: $ 5089.49 Calculate IRR for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: 19.86 % Project N: 16.80 % Calculate MIRR for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: -2.12 % Project N: -2.15 % Calculate payback for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: -3 years Project N: -3.21 years Calculate discounted payback for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: years Project N: years b. Assuming the projects are independent, which one(s) would you recommend? -Select- 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? -Select