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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: 1 2
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:
| 1 | 2 | 3 | 4 | 5 |
| Project M | -$6,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Project N | -$18,000 | $5,600 | $5,600 | $5,600 | $5,600 | $5,600 |
Calculate discounted payback for each project. Round your answers to two decimal places.
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