A firm with a 13% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as follows: 4 5 0 1 2 3 + + -$6,000 $2,000 $2,000 $2,000 -$18,000 $5,600 $5,600 $5,600 Project M Project N $2,000 $5,600 $2,000 $5,600 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? -Select- V C. If the projects are mutually exclusive, which would you recommend? -Select d. Notice that the projects have the same cash flow timing pattem. Why is there a conflict between NPV and IRR? -Select