Problem: Marchase Industries is in the process of choosing the better of two equal-risk, mutually exclusive capital expenditure projects - M an N, with an initial investment of $32,500 and $28,500 respectively. The relevant cash flows for each project are shown in the following table. The firm's cost of capital is 11%. Cash Inflows (CFJ) Year (t) Project M Project N 0 (32,500) $ (28,500) 1 12,000 $ 14,000 2 12,000 12,000 3 12,000 $ 8,000 4 S 12,000 $ 5,000 Project M Payback Period (years) (2 d.p.) Project N Payback Period (years) (2 d.p.) Based on Payback Period, indicate which project you would recommend and why. Project M Discounted Payback Period (years) (2 d.p.) Project N Discounted Payback Period (years) (2 d.p.) Based on Discounted Payback Period, indicate which project you would recommend and why. Project M Net Present Value (NPV) (2 d.p.) Project N Net Present Value (NPV) (2 d.p.) Based on Net Present Value, indicate which project you would recommend and why. Project M Internal Rate of Return (IRR) (2 d.p.) Project N Internal Rate of Return (IRR) ( 2 d.p.) Based on Internal Rate of Return, indicate which project you would recommend and why