Problem 11.07 (Capital Budgeting Criteria) firm with a 13% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as foll oject-$4,000$4,000$4,000$4,000$4,000$12,000oject-$11,200$11,200$11,200$11,200$11,200$36,000 a. Calculate NPV for each project. Do not round intermediate calculations. Round your answers to the nearest cent. Project M: \$ Project N: Calculate IRR for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: % Project N : Calculate MIRR for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: % Project N: % Calculate payback for each project. Do not round intermediate calculations. Round your answers to two decimal places. Project M: years Project N: years Calculate discounted payback for each project. Do not round intermediate calculations. Round your answers to two decimal places Project M: years Project N : years b. Assuming the projects are independent, which one(s) would you recommend? c. If the projects are mutually exclusive, which would you recommend? -Select- d. Notice that the projects have the same cash flow timing pattern. Why is there a conflict between NPV and IRR