Britney Javelin Company is considering two investments, both of which cost $14,000. The cash flows are as follows: Use Appendix Band Arpendix D Project M $22,000 17,000 13,000 Project N $21,000 17,600 15,000 a. Calculate the payback period for project Mand project N. (Round the final answers to 2 decimal places.) Project M Project N years b-1. Calculate the NPV for project Mand project N. Assume a cost of capital of 8 percent. (Round "PV Factor to 3 decimal places. Round the intermediate and final answers to the nearest whole dollar) Net present value Project H b-2. Which of the two projects should be chosen based on the NPV method? Project M Project N Both