Project P costs $15,000 and is expected to produce benefits (cash flows) of $4,500 per year for five years. Project Q costs $37,500 and is expected to produce cash flows of $11,100 per year for five years. a.) Calculate the NPV, IRR, MIRR, discounted payback, and traditional payback period for each project, assuming a required rate of return of 14 percent. b.) If the projects are independent, which project(s) should be selected? If they are mutually exclusive projects, which project should be selected?