please answer and show all your work and steps

Please show all your work!. Full credit will be given to students who show all calculations. 1. Nokia has four potential investment projects focusing on development of new next-gen cellphone all with an initial cost of $2,000,000. The capital budget for the year will only allow the company to accept one of the four projects. Given the discount rates and the future cash flows of each project, which project should they accept using NPV approach? Cash Flows Project M Project N Project O Project P Year one $500,000 $600,000 $1,000,000 $300,000 Year two $500,000 $600,000 $800,000 $500,000 Year three $500,000 $600,000 $600,000 $700,000 Year four S500,000 $600,000 $400,000 $900,000 Year five S500,000 S600,000 $250,000 $1,100,000 Discount Rate 6% 9% 15% 22%