Q# $2$: Projects $M$ and $N$ data are given below in respect of Capital Budgeting. Each project has a cost of $$14,000$ and the cost of capital is $14$ percent.

$\backslash$table$[[$Year$,1,2,3,4,5],[$Cash Flow Project $M,5,000,6,000,4,000,5,000,2,000],[$Cash Flow Project N$,2,000,5,000,4,000,6,000,5,000]]$

Required: $($a$)$ Calculate Payback period and discounted payback period for each project.

$($b$)$ Calculate Net Present Value and comment why both projects NPVS are not equal although both generated equal cash flows.

$($c$)$ Compute Internal Rate of Return $($IRR$)$ and state its significance.