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: 2 3 5 0 1 4 % % Project M -$21,000 $7,000 $7,000 $7,000 $7,000 $7,000 Project N -$63,000 $19,600 $19,600 $19,600 $19,600 $19,600 a. Calculate NPV for each project. Do not round Intermediate calculations. Round your answers to the nearest cent. Project M: $ Project N: 5 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 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- years