Britney Javelin Company is considering two investments, both of which cost $36,000. The cash flows are as follows: Use Appendix Band Appendix D Year 1 2 Project $20,000 10,000 12,000 Project $18,000 8.600 18,000 a. Calculate the payback period for project Mand project N. (Round the final answers to 2 decimal places.) Project M Project Payback period years years b-1. Calculate the NPV for project M and project N. Assume a cost of capital of 7 percent. (Round "PV Factor" to 3 decimal places, Round the intermediate and final answers to the nearest whole dollar.) Net present value Project Project 5 b-2. Which of the two projects should be chosen based on the NPV method? Project N years 8 b-1. Calculate the NPV for project M and project N. Assume a cost of capital of 7 percent. (Round "PV Factor" to 3 Round the intermediate and final answers to the nearest whole dollar.) Project M Project N Net present value $ $ ped b-2. Which of the two projects should be chosen based on the NPV method? inces O Project M O Project N O Both c. Should a firm normally have more confidence in answer derived based on NPV method or Payback method? O NPV method Pay back method