A firm with a 14% 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 Project M -$30,000 $10,000 $10,000 $10,000 $10,000 $10,000 Project N -$90,000 $28,000 $28,000 $28,000 $28,000 $28,000 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 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? -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