Britney Javelin Company is considering two investments, both of which cost $42,000. The cash flows are as follows: Use Appendix B and Appendix D. Year Project M $20,000 15,000 15,000 Project N $19,000 14,000 20,000 a. Calculate the payback period for project Mand project N. (Round the final answers to 2 decimal places.) Project M Project N Payback period 2.47 years 2.45 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 23 b-2. Which of the two projects should be chosen based on the NPV method? b-1. Calculate the NPV for project M and 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? 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? NPV method O Pay back method