Fitch Industries is in the process of choosing the better of two equal-risk, mutually exclusive capital expenditure projects --M and N. The relevant cash flows for each project are shown in the following table. The firm's cost of capital is 14% Initial investment (CFO) Project M $28,500 , Project N $27,000 Cash flow Project M 10000 10000 10000 10000 Cash flow Project 11000 10000 90000 80000 a. Calculate each project's payback period. b. Calculate the net present value (NPV) for each project B OP $