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: Project M Project N - $24,000 $8,000 $8,000 $8,000 $8,000 $8,000 - $72,000 $22,400 $22,400 $22,400 $22,400 $22,400 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