A firm with a $13\%$ WACC is evaluating two projects for this year's capital budget. After$-$tax cash flows, including depreciation, are as follow

a$.$ Calculate NPV for each project. Do not round intermediate calculations. Round your answers to the nearest cent.

Project M: $ $$

Project $N$:$ $$

Calculate IRR for each project. Do not round intermediate calculations. Round your answers to two decimal places.

Project M: $\%$

Project N: $\%$

Calculate MIRR for each project. Do not round intermediate calculations. Round your answers to two decimal places.

Project M: $\%$

Project $N$ : $\%$

Calculate payback for each project. Do not round intermediate calculations. Round your answers to two decimal places.

Project M: $$ years

Project N: $$ 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?

$$

c$.$ If the projects are mutually exclusive, which would you recommend?

$$

d$.$ Notice that the projects have the same cash flow timing pattern. Why is there a conflict between NPV and IRR?

$-$Select$-$