Britney Javelin Company is considering two investments, both of which cost $18,000. The cash flows are as follows: Use Apendix B and Appendix D Year 1 2 3 Project M $26,000 21,00 20,000 Project N $25,000 21,400 19,000 a. Calculate the payback period for project M and project N. (Round the final answers to 2 decimal places.) Payback period Project M years 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 M Project N b-2. Which of the two projects should be chosen based on the NPV method? Project N Project M Both Project M Project N Payback perlod years 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 dollor.) het present value Project M Project N b-2. Which of the two projects should be chosen based on the NPV method? O Project N O Project M O Both c. Should a firm normally have more confidence in answer derived based on NPV method or Payback method? NPV method Pay back method