Fast Firm Cayman Islands is considering investment in two projects for the 2020 capital budget. The after tax cash flows, including depreciation are listed below for both projects. Cash Outlay (t =0) 1 2 3 4 5 Project M ( $24,000) 8000 8000 8000 8000 8000 Project N ($72,000) 22,400 22,400 22,400 22,400 22,400 You are required to do the following: a. Calculate the NPV, IRR, MIRR, Payback and discounted payback for each project. (20 Points) Chapter 10 Bodden Developments Cayman Islands had the following capital structure which they consider to be optimal. Capital Structure $ Bonds 6% CR, Mkt $ 600,000 rate, 8% Preferred stock, $6 300,000 Common Stock 1,200,000 Retained Earnings 400,000 Total 2.500.000 Dividends on common stock are currently $5 per share and are expected to grow at a constant rate of 7%. Market price per share of common stock is $40, and the preferred stock is selling at $60. Flotation cost on the new issues of common stock is 10%. Interest on bonds is paid annually. The company's tax rate is 35%