Hi and Thank you in advance. This question is posted online alot but i need this to be solved out with steps, formulas, financial calculator entries, etc. it must be detailed and well written.

3. Fitch Industries is in the process of choosing the better of two equal-risk, - M and N. The relevant cash mutually exclusive capital expenditure projects flows for each project are shown in the following table. The firm's cost of capital is 14%. Project M Project N Initial Investment (CFo): $28,500 $27,000 Year (t) 2 4 Cash Inflows (CF) $10,000 $11,000 10,000 10,000 10,000 9,000 10,000 8,000 a. Calculate each project's payback period. b. Calculate the net present value (NPV) for each project. c. Calculate the internal rate of return (IRR) and MIRR for each project. d. Summarize the preferences dictated by each measure you calculated, and indicate which project you would recommend Explain why. Draw the net present value profiles for these projects on the same set of axes, and explain the circumstances under which a conflict in rankings might exist. e